Sports Contest

Wholesale price index inflation hits 25-month low, drops to 1.08 per cent in July

New Delhi, News Nation Bureau | Updated : 14 August 2019, 12:59 PM
Wholesale price index inflation (Photo Credit: Twitter)
Wholesale price index inflation (Photo Credit: Twitter)

India’s Wholesale Price Index-based (WPI) inflation fell to 1.08 per cent in July this year, as compared to 2.02 per cent (provisional) for the previous month and 5.27 per cent in July last year, the government data showed on Wednesday.

It is worth mentioning here that the build-up inflation rate in the financial year so far was 1.08 per cent compared to a build-up rate of 3.1 per cent in the corresponding period of the previous year.

Wholesale inflation in food fell to 4.54 percent as against 5.04 per cent in June. Vegetable inflation fell to 10.67 per cent against 24.76 percent in June.

The government data further said that inflation in food articles was 6.15 per cent in July this year as against 6.98 per cent in the previous month. In the meantime, wholesale inflation in fuel and power segment also contracted further to (-) 3.64 per cent as against (-) 2.2 per cent in June. The retail inflation in July too had eased to 3.15 per cent over the previous month when it was 3.18 per cent.

It is to be noted that Wholesale inflation - the rate of increase in wholesale prices - is determined by the Wholesale Price Index (WPI).

Interestingly, the wholesale inflation data comes a day after separate official data showed consumer inflation (gauged by the Consumer Price Index) eased to 3.15 per cent last month, from 3.18 per cent in June.

The government also revised the wholesale inflation for May to 2.79 per cent from 2.45 per cent.

First Published: Wednesday, August 14, 2019 12:58 PM
For all the latest Business News Download the News Nation App available on Android and iOS.