India’s wholesale inflation gauged by the Wholesale Price Index (WPI) came in at 15.18 percent in June, official data showed on Thursday. June’s wholesale inflation is marginally lower than the 15.88 percent reported during the previous month. The high rate of inflation in June is primarily due to a rise in prices of mineral oils, food articles, crude petroleum and natural gas, basic metals, chemicals, and chemical products, and food products as compared to the corresponding month of the previous year, an official statement said.
The Wholesale Price Index (WPI) based inflation has been in the double-digit for 15 months in a row now. The rate of inflation based on the WPI Food Index increased from 10.89 percent in May 2022 to 12.41 percent in June 2022, data showed.
The index for the fuel and power group increased by 0.65 percent to 155.4 in June 2022 from 154.4 in May 2022. On the other hand, the index for manufactured products, which has 64 weightage in the entire basket, declined by 0.76 percent to 143.7 in June 2022 from 144.8 in May 2022. Some of the groups that have witnessed a decrease in prices are basic metals, food products, other manufacturing, and furniture.
In comparison, India’s retail inflation has been over the Reserve Bank of India’s upper tolerance band of 6 percent for the sixth consecutive month in a row in June. Retail inflation came in at 7.01 percent in June.