mahngai dar news | WPI : Wholesale inflation declined in June, but in double digits for the third consecutive month

mahngai dar news | WPI : Wholesale inflation declined in June, but in double digits for the third consecutive month

WPI : Wholesale inflation declined in June, but in double digits for the third consecutive month

Wholesale Inflation&nbsp | &nbspPhoto Credits:&nbspBCCL

Headlines

  • In June 2021, the wholesale inflation rate is at 12.07 percent.
  • In June 2020, the wholesale inflation rate was minus 1.81 per cent.
  • Wholesale inflation in food articles also declined to 3.09 per cent in June.

New Delhi : Inflation based on wholesale prices (WPI) declined marginally to 12.07 per cent in June on softening crude and food prices. However, WPI remained in double digits for the third consecutive month in June, mainly due to lower base of last year. WPI inflation was down to minus 1.81 per cent in June 2020. Inflation based on the Wholesale Price Index (WPI) moderated in June after five consecutive months of rise on softness in food articles and crude oil prices, despite continued inflation in manufactured products.

Experts said that with WPI inflation and retail inflation remaining in the double digits, monetary policy may see pressure in the coming times. He also said that the WPI is expected to remain at a higher level till October 2021. The annual rate of inflation for June 2021 (as compared to June 2020) is 12.07 per cent, down from minus 1.81 per cent in June 2020, the commerce ministry said in a statement.

The high rate of inflation in June 2021 was mainly driven by low base effect and prices of mineral oils like petrol, diesel (HSD), naphtha, ATF, furnace oil and manufactured products like basic metals, food products, chemical products, the statement said. due to growth. Inflation in fuel and power declined to 32.83 per cent during the period under review, from 37.61 per cent in May.

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Similarly, inflation in food articles also declined to 3.09 per cent in June from 4.31 per cent in May. However, onions became expensive during this period.
Inflation in manufactured products stood at 10.88 per cent in June as against 10.83 per cent in the previous month.

ICRA Chief Economist Aditi Nair said the moderation in WPI inflation is expected to continue, although it will remain in double digits in the September quarter. Industry body PHDCCI President Sanjay Aggarwal said that inflation due to costlier fuel and power is increasing the cost of the industry, which is affecting its competitiveness in domestic and international markets.


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