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Wholesale Inflation Dips To 23-Month Low In June

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Official government data released on Monday showed that the wholesale price-based inflation in June declined for the second consecutive month to its 23-month low of 2.02 percent due to a fall in vegetables, fuel and power item prices.

The Wholesale Price Index (WPI) was at 2.45 percent in May and 5.68 percent in June 2018. WPI inflation in June is the lowest in 23 months, since July 2017, when it was at 1.88 percent.

Wholesale Inflation Dips To 23-Month Low In June
 

WPI inflation data for April has been revised upwards to 3.24 percent from provisional 3.07 percent. Data released earlier this week showed that retail inflation spiked to a six-month high of 3.18 pc in June, on costlier food items.

Inflation in food articles basket eased marginally to 6.98 percent in June, from 6.99 percent in the previous month. Vegetable inflation softened to 24.76 percent in June, down from 33.15 percent in May.

Inflation in potato was (-) 24.27 percent, against (-) 23.36 percent in May. However, onion prices continued to rise with inflation at 16.63 percent in June, as against 15.89 percent in the previous month.

Inflation in 'fuel and power' category cooled substantially to (-)2.20 percent, from 0.98 percent last month. Manufactured items too saw decline in prices with inflation at 0.94 percent in June, against 1.28 percent in May.

Read more about: wpi inflation
Story first published: Monday, July 15, 2019, 13:19 [IST]
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