BUSINESS

WPI inflation eases to 2% in June

Wholesale price-based inflation declined for the second consecutive month to its 23-month low of 2.02% in June, helped by decline in prices of vegetables as well as fuel and power items, according to official data released on Monday.

The Wholesale Price Index (WPI)-based inflation was at 2.45% in May. It was 5.68% in June 2018. Inflation in the food articles basket eased marginally to 6.98% in June, from 6.99% in May. Vegetable inflation softened to 24.76% in June, down from 33.15% in the previous month. Inflation in potatoes was (-)24.27%, against (-)23.36% in May.

However, onion prices continued the rising trend with inflation at 16.63% in June, as against 15.89% in May. WPI inflation in June is the lowest in 23 months, since July 2017, when it was at 1.88%. Inflation in ‘fuel and power’ cooled substantially to (-)2.2%, from 0.98% last month. Manufactured items too saw decline in prices with inflation at 0.94% in June, against 1.28% in May.

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