WPI Inflation For July Up 3.3 Per cent To 23- Month High

Posted By:
Subscribe to GoodReturns

The Wholesale Price Index for inflation rose 3.55 per cent to a 23-month high in July 2016, as against 1.62 per cent for the previous month.

WPI Inflation For July Up 3.3 Per cent To 23- Month High

"The annual rate of inflation, based on monthly WPI, stood at 3.55% (provisional) for the month of July, 2016 (over July, 2015) as compared to 1.62% (provisional) for the previous month and -4.00% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 4.91% compared to a build up rate of 0.85% in the corresponding period of the previous year," a govt press release said.

The entire primary articles inflation jumped by 2.5 per cent in the month of July. Inflation for food articles rose by 2.4 percent to 285.8 from 279.0 for the previous month. Manufactured products inflation rose very marginally by 0.3 per cent.

The WPI inflation for May has been revised upwards at 1.24 per cent, against provisional estimate of 0.79 per cent.

In the last monetary policy meet, the RBI had maintained status quo on key rates, as worries over inflation continued. However, the RBI takes into account consumer price inflation (CPI inflation) and not WPI inflation, while managing interest rates.

Know the difference between WPI and CPI Inflation


Read more about: inflation, wpi
Story first published: Tuesday, August 16, 2016, 14:36 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'


Get Latest News alerts from Goodreturns