India’s WPI Inflation Eases To 13.93% In July
New Delhi: India’s wholesale inflation eased to 13.93 per cent in July, according to the data released by the Ministry of Commerce & Industry showed.
As per the data, the WPI-based inflation was 15.18% in June 2022.
Despite the easing in the wholesale inflation data, the WPI continues to remain in the double digits for the 16th consecutive month beginning April 2021.
“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,” the commerce ministry statement said.
The food articles segment eased to 10.77 per cent in July, the data showed. In the month prior to that, this was 14.39 per cent. The month-on-month decline can be attributed to a steep fall in vegetable prices.
Vegetable prices eased to 18.25 per cent in July from 56.75 per cent in June, the data showed. Prices of potato climbed 53.50 per cent while that of onions slipped (-)25.93 per cent. Prices of fruits witnessed a spike of 29.44 per cent last month from 20.33 per cent in June, while that of milk eased to 5.45 per cent from 6.35 per cent a month ago. Cereal prices rose to 9.76 per cent in July up from 7.99 per cent a month ago while wheat rose 13.61 per cent last month, from 10.34 per cent in June.
The fuel and power segment surged 43.75 per cent last month from 40.38 per cent in June. Petrol price eased to 55.30 per cent from 57.82 per cent month ago, while HSD (High-Speed Diesel) climbed 72.41 per cent from 54.93 per cent. LPG prices eased to 32.00 per cent from 53.20 per cent.
The manufactured products segment eased to 8.16 per cent in July from 9.19 per cent in the month prior.