NEW DELHI, Aug 17 (NNN-PTI) – India’s wholesale price index (WPI) eased to 11.16 percent in Jul, data released by the federal ministry of commerce and industry showed.
“The annual rate of inflation is 11.16 percent (provisional) for the month of July, 2021, as compared to -0.25 percent in July, 2020. The high rate of inflation in July 2021 is primarily due to the low base effect and rise in prices of crude petroleum and natural gas, mineral oils, manufactured products, like basic metals, food products, textiles, chemicals and chemical products etc., as compared to the corresponding month of the previous year,” a statement issued by the ministry said.
In June, the wholesale price inflation was recorded at 12.07 percent.
The monthly rate of inflation, based on month over month movement of WPI index, in July 2021, stood at 0.60 percent (provisional), the ministry said.
WPI inflation, an indicator of prices in the wholesale market, rises or falls mainly due to steep increase or decrease in commodity prices globally.
WPI Food Index in July eased to 4.46 percent from 6.66 percent in June.
The Food Index consisting of food articles from the primary articles group and food products from the manufactured products group has increased from 158.6 in June to 159.3 in July.
The index for the manufactured products group increased by 0.38 percent to 132.0 (provisional) in July, as compared to 131.5 in June, the data showed.
The index for primary articles increased by 1.05 percent to 153.4 (provisional) in July from 151.8 (provisional) for the month of June.
The index for fuel and power increased by 0.53 percent to 114.3 (provisional) in July from 113.7 (provisional) for June.– NNN-PTI
