Economy

WPI inflation falls 0.58% in July, food prices spike

The wholesale price-based inflation declined 0.58% in July, even as food items turned costlier.   | Photo Credit: Reuters

The wholesale price-based inflation declined 0.58% in July, even as food items turned costlier.

WPI inflation in June was at (-)1.81%, while for the month of May and April it was (-)3.37% and (-)1.57% respectively.

“The annual rate of inflation, based on monthly WPI (Wholesale Price Index), stood at (- 0.58 per cent) (provisional) for the month of July, 2020 as compared to 1.17 per cent during the corresponding month of the previous year,” the commerce and industry Ministry said in a statement.

Inflation in food articles during July stood at 4.08%, as against 2.04% in June.

However, fuel and power basket inflation fell 9.84% in July, compared to 13.60% in the previous month.

Manufactured products, however, witnessed inflation of 0.51% in July, as against 0.08% in June.

The RBI in its policy review last week, kept interest rates unchaged and said it sees an upside risk to inflation. The apex bank expects retail inflation to moderate in October-March period.

July retail inflation was at 6.93%, as against 6.23% in June.


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Printable version | Oct 29, 2021 12:44:38 AM | https://www.thehindu.com/business/Economy/wpi-inflation-falls-058-in-july-food-prices-spike/article32352954.ece

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