Categories: Business

WPI inflation eased 0.58 percent in July, despite food prices rising

Photo: TIMES OF INDIA

WPI inflation falls 0.58 pc in July, food prices spike

new Delhi. Wholesale price index-based inflation declined to negative 0.58 percent in July, from negative 1.81 percent in June. According to the data released by the government on Friday, the inflation based on the monthly wholesale price index declined 0.58 percent in the month of July on a year-on-year basis. In July last year, the rate had increased by 1.17 percent. The decline was 1.81 percent in June. In May, the decline was 3.37 percent, while in April, the decline was 1.57 percent.

Inflation in primary articles for the month of July increased by 0.63 per cent as well as by 0.51 per cent for manufactured products. For fuel and power, it has declined by 9.84 percent. If we talk about food index, then inflation has increased by 4.08 percent. It was 2.04 percent in June. That is, the prices of food and drink have increased.

The RBI in its policy review report last week held interest rates stable and said it sees a risk of inflation rising. The central bank has expected a moderate decline in retail inflation during October-March. Retail inflation stood at 6.93 percent in July, as against 6.23 percent in June.

This post was published on August 14, 2020 3:31 pm

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