India’s wholesale inflation eases slightly in June

India’s wholesale inflation as measured by the Wholesale Price Index (WPI) stood at 15.18% in June, official data showed on Thursday. June wholesale inflation is slightly lower than the 15.88% recorded the previous month. The high inflation rate in June was mainly due to an increase in the prices of mineral oils, food products, crude oil and natural gas, base metals, chemicals and chemical products and food products compared to the corresponding month of the previous year. , says an official statement.

Inflation based on the Wholesale Price Index (WPI) has been in double digits for 15 straight months now. The inflation rate based on the WPI food index rose from 10.89% in May 2022 to 12.41% in June 2022, the data showed.

The index for the fuels and electricity group increased by 0.65% from 154.4 in May 2022 to 155.4 in June 2022. In contrast, the index for manufactured goods, which has a weighting of 64 in the entire basket, decreased by 0.76% to 143.7 in May 2022. June 2022 from 144.8 in May 2022. Some of the groups that have seen lower prices are base metals, foodstuffs, other manufactured goods and furniture.

By comparison, retail price inflation in India exceeded the Reserve Bank of India’s upper tolerance band of 6% for the sixth consecutive month in June. Retail price inflation stood at 7.01% in June.

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