India’s June wholesale inflation stood at 5.77%

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wholesale-inflation

New Delhi, July 16: Wholesale price-indexed (WPI) inflation in India during June stood at 5.77 per cent against 4.43 per cent in the previous month, the Commerce Ministry data showed on Monday.

According to the data, the WPI inflation rate was also higher on year-on-year (YoY) basis as in June 2017 was at 0.90 per cent.

“The annual rate of inflation, based on monthly WPI, stood at 5.77 per cent (provisional) for June 2018 (over June 2017) as compared to 4.43 per cent (provisional) for the previous month and 0.90 per cent during the corresponding month the previous year,” the Ministry said.

“Build up inflation rate in the financial year so far was 2.49 per cent compared to a build up rate of (-) 0.44 per cent in the corresponding period of the previous year.”

On a sequential basis, the expenses during the month under consideration on primary articles, which constitute 22.62 per cent of the WPI’s total weightage, increased by 5.30 per cent, from a marginal hike of 3.16 per cent in May this year.

Among primary and basic articles, food items, which has a weightage of 15.26 per cent in the index, climbed up last month by 1.80 per cent from a acceleration of 1.60 per cent reported for May.

The fuel and power price, which commands a 13.15 per cent weightage in WPI, rose at a fast pace of 16.18 per cent during the month, from a increase of 11.22 per cent in May.

Meanwhile, expenses on manufactured products hiked by 4.17 per cent, from 3.73 per cent in the previous month.

On a YoY basis, onion prices in June soared higher by 18.25 per cent, while potatoes by 99.02 per cent.

Similarly, the prices of both high-speed diesel and petrol edged up higher than in the previous month of last year, by 17.45 per cent and 21.63 per cent.

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