Team News Riveting
New Delhi, July 15
The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 3.36 per cent (Provisional) for the month of June, 2024 (over June, 2023).
Positive rate of inflation in June, 2024 is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, other manufacturing etc, a government data released today said.
The Index numbers and inflation rates for the last three months of ‘All Commodities’ and WPI components are given below:
| Index Numbers and Annual Rate of Inflation (Y-o-Y in %) * | |||||||
| All Commodities/Major Groups | Weight (%) | Apr-24 | May-24 (P) | Jun-24 (P) | |||
| Index | Inflation | Index | Inflation | Index | Inflation | ||
| All Commodities | 100.00 | 152.9 | 1.19 | 153.3 | 2.61 | 153.9 | 3.36 |
| I. Primary Articles | 22.62 | 187.1 | 5.23 | 187.7 | 7.20 | 191.6 | 8.80 |
| II. Fuel & Power | 13.15 | 151.4 | -0.85 | 150.6 | 1.35 | 147.7 | 1.03 |
| III. Manufactured Products | 64.23 | 141.2 | -0.14 | 141.7 | 0.78 | 141.9 | 1.43 |
| Food Index | 24.38 | 184.6 | 6.09 | 185.7 | 7.40 | 190.3 | 8.68 |
Note: P: Provisional, *Annual rate of WPI inflation calculated over the corresponding month of previous year
Month-over-Month Change in Major Groups of WPI:
- Primary Articles (Weight 22.62%): – The index for this major group increased by 2.08% to 191.6 (provisional) in June, 2024 from 187.7 (provisional) for the month of May, 2024. Prices of food articles (2.96%) and minerals (1.47%) increased in June, 2024 as compared to May, 2024. Prices of non-food articles (-0.32%) and crude petroleum & natural gas (-0.57%) declined in June, 2024 as compared to May, 2024.
- Fuel & Power (Weight 13.15%): – The index for this major group declined by 1.93% to 147.7 (provisional) in June, 2024 from 150.6 (provisional) for the month of May, 2024. Prices of electricity (-1.67%) and mineral oils (-2.38%) declined in June, 2024 as compared to May, 2024.
- Manufactured Products (Weight 64.23%): – The index for this major group increased by 0.14% to 141.9 (provisional) in June, 2024 from 141.7 (provisional) for the month of May, 2024. Out of the 22 NIC two-digit groups for manufactured products, 8 groups witnessed an increase in prices,10 groups witnessed a decrease in pricesand4groupswitnessed no change in prices. Some of the important groups that showed month-over-month increase in prices are food products; chemicals & chemical products; textiles; rubber & plastics products; motor vehicles, trailers & semi-trailers, etc. Some of the groups that witnessed a decrease in prices are basic metals; other non-metallic mineral products; fabricated metal products, except machinery & equipment; pharmaceuticals, medicinal chemical & botanical products; machinery & equipment, etc.in June, 2024 as compared to May, 2024.
