Team News Riveting
New Delhi, August 14
The wholesale prices remained in the deflationary zone for the fourth month in a row in July although the wholesale price index (WPI)-based inflation in July came in at (-)1.36 per cent.
It is significantly high than (-)4.12 per cent reported in June on account of the rising price of food, according to the data released by the Centre on Monday. The WPI inflation stood at (-)3.48 per cent in May and at 16.23 per cent in June 2022. The lowest wholesale inflation was recorded at (-) 4.76 per cent in October 2015.
The inflation in primary articles was considerably higher at 7.57 per cent as compared to July last year. As compared to June 2023, the inflation in this category was 8.05 per cent.
In the fuel and power category, the WPI-based inflation was -12.79 per cent year-on-year (YoY). Sequentially, it was (-) 0.48 per cent.
In the manufactured products category, the YoY change in wholesale inflation was (-) 2.51 per cent. As compared to June this year, the inflation in this category was (-) 0.29 per cent.
“The food index consisting of ‘Food Articles’ from the primary articles group and ‘Food Product’ from the manufactured products group has increased from 175.2 in June 2023 to 187.7 in July 2023. The annual rate of inflation based on the WPI Food Index increased from (-) 1.24 per cent in June 2023 to 7.75 per cent in July 2023,” the Centre’s release said.
