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Wholesale Inflation Contracts 1.8% In June On Decline In Fuel Demand
The Wholesale Price Index (WPI) for June fell 1.81 percent in June when compared to a 3.21 percent decline in May, according to data released by the Ministry of Commerce and Industry.
Prices of primary articles fell 1.21 percent while that of fuel, power and lighting fell 13.6 percent. Wholesale food prices increased by 2.1 percent year-on-year while manufactured product prices were flat compared to the previous year.
"The annual rate of inflation, based on monthly WPI (Wholesale Price Index), stood at (-1.81 percent) (provisional) for the month of June, 2020, as compared to 2.02 percent during the corresponding month of the previous year," the Commerce and Industry Ministry said in a statement.
In fuel and power basket, deflation stood at 13.60 percent in June, against 19.83 percent in the previous month.
Meanwhile, the final print of April WPI inflation stood at 1.57 percent, the ministry said.
