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July WPI Drops To 13.93% On Lower Food Prices
For July month, the country's inflation based on All-India Wholesale Price Index (WPI) Number is 13.93% as per the data released by the commerce ministry today. In June 2022, the same was at 15.18%, down from more than 30-year high of 16.63% in May.
Reportedly, WPI inflation dropped month on month on account of reduction in food prices. Food inflation declined to 9.41%, down 300 bps in comparison to June figure.
Last year, in July, WPI inflation was at 11.57%.
"Inflation in July, 2022 is primarily contributed by rise in prices of mineral oils, food articles, crude petroleum & natural gas, basic metals, electricity, chemicals & chemical products, food products etc. as compared to the corresponding month of the previous year", said the press release by the ministry of Commerce and Industry.
Given the double-digit increase in July WPI, wholesale price inflation has continued to be more than 10% for 16 consecutive months now.
