India's Wholesale Inflation Falls To 8-Year Low Of Minus 4.12% In June
[ad_1]
The deflation in the wholesale price continued for the third month in a row in June. New Delhi: The deflation in the wholesale price continued for the third month in a row in June, with WPI contracting to a nearly eight-year low at minus (-) 4.12 per cent on account falling prices of food products, fuel and basic metals, according to official data released today. The Wholesale Price Index (WPI) based inflation stood at (-) 3.48 per cent in May and at 16.23 per cent in June 2022. The lowest WPI was recorded at (-) 4.76 per cent in October 2015. The decline in WPI is in contrast with June retail inflation which inched up to 4.8 per cent in June from 4.3 per cent in May. "The decline in the rate of inflation in June 2023 is primarily due to fall in prices of mineral oils, food products, basic metals, crude petroleum and natural gas and textiles," the Ministry of Commerce and Industry said in a release. As per the data, the index for fuel and power contracted by 12.63