Wholesale prices declined 0.58 per cent in July
Inflation based on wholesale price index (WPI) for the month of July declined 0.58 per cent, thus making it the fourth straight month where wholesale inflation has come in the negative territory. “The annual rate of inflation, based on monthly WPI (Wholesale Price Index), stood at (- 0.58 per cent) (provisional) for the month of July, 2020 as compared to 1.17 per cent during the corresponding month of the previous year,” the commerce and industry ministry said in a statement.
WPI inflation in June was at (-) 1.81 per cent, while for the month of May and April it was (-) 3.37 per cent and (-) 1.57 per cent respectively.
However, wholesale inflation of food articles spiked in July, coming at 4.08 per cent, as compared to 2.04 per cent in June. On the other hand, fuel and power basket inflation fell 9.84 per cent in July, compared to 13.60 per cent in the previous month. Manufactured products witnessed inflation of 0.51 per cent in July, as against 0.08 per cent in June.
On Thursday, retail inflation for July came at 6.93 per cent, as against 6.23 per cent in June.
