India’s wholesale inflation came down to 13.93 percent in July, data released by the Ministry of Commerce & Industry showed on Tuesday.
The wholesale price index (WPI) had spiked to 15.18 percent during the month of June. The WPI in July 2021 was at 11.57 percent.
Inflation in July 2022 is primarily contributed by rising in prices of mineral oils, food articles, crude petroleum and natural gas, basic metals, electricity, chemicals & chemical products, food products, etc., as compared to the corresponding month of the previous year, said the ministry.
The index for the Primary Article group (weight 22.62 percent) declined by 2.69 percent to 177.5 (provisional) in July 2022 from 182.4 (provisional) for the month of June 2022. Prices of Minerals (0.96 percent) increased in July 2022 as compared to June 2022. Prices of Food Articles (-2.56 percent), Non-food Articles (-2.61 percent), and Crude Petroleum & Natural Gas (-5.05 percent) declined in July 2022 as compared to June 2022, said the ministry.
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However, the index for the Fuel and Power group increased by (6.56 percent) to 165.6 (provisional) in July 2022 from 155.4 (provisional) for the month of June 2022. Prices of Mineral Oils (7.95 percent) and Electricity (6.38%) increased in July 2022 as compared to June 2022.
The index for the Manufactured Products group declined by 0.42 percent to 143.1 (provisional) in July 2022 from 143.7 (provisional) for the month of June 2022.
The Food Index consisting of ‘Food Articles’ from the Primary Articles group and ‘Food Product’ from the Manufactured Products group has decreased from 178.4 in June 2022 to 174.4 in July 2022. The rate of inflation based on the WPI Food Index decreased from 12.41 percent in June 2022 to 9.41 percent in July 2022, said the ministry.
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