India’s WPI Deflation Widens To Near Eight-Year Low In June
The Wholesale Price index declined 4.18% in June 2023, compared to a fall of 3.48% in May. It was lowest since October 2015.
India’s wholesale prices contracted for the third straight month in June, led by a continuing fall in the prices of manufactured products. The Wholesale Price index declined 4.18% in June 2023, compared to a fall of 3.48% in May, according to data released by the Ministry of Commerce and Industry on Friday. WPI inflation was the lowest since October 2015, when it had fallen by 4.76%.
WPI Inflation Internals (Year-On-Year) Inflation in manufactured products—the largest component of the index—stood at -2.71% compared with -2.97% in May. Primary-article inflation stood at -2.88% in June, against -1.8% in the previous month.
Inflation in food articles rose 1.32%, compared with a rise of 1.51% in the previous month. Vegetable inflation fell 22%, compared with a fall of 20.1% in the preceding month. However, cereals, paddy, pulses, and wheat saw a rise. Inflation in non-food articles was at -9.72%, compared to -9.56% in the previous month. Fuel and power inflation stood at -12.63%, compared with -9.17% in May.
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