WPI inflation negative for 3rd straight month in June - Times of India
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NEW DELHI: Wholesale price-based inflation contracted for the third straight month in June on the back of easing food, fuel and manufactured product prices. The gap between retail and wholesale inflation widened. Data released by the commerce and industry ministry on Friday showed inflation, based on the wholesale price index (WPI), fell 4. 1% in June, sharper than the 3. 5% in May. The contraction in the rate of inflation in June, 2023 is primarily due to fall in prices of mineral oils, food products, basic metals, crude petroleum & natural gas and textiles, according to the government statement. Earlier this week, data released by the National Statistical Office (NSO) showed retail inflation rose to a threemonth high of 4. 8% in June, higher than the 4. 3% in May. The food index rose to 4. 5% during the month from nearly 3% in May. Vegetable prices contracted 22% and manufactured product prices declined 2. 7% in June. Prices of cereals and pulses remained firm, mirr...