Wholesale inflation in India reached a 16-month high of 3.36% in June, driven by rising prices of food articles, especially vegetables, and manufactured items. This marks the fourth consecutive month of increasing inflation, up from 2.61% in May.
Food inflation fell to 6.85 per cent in January, down from 9.38 per cent in December 2023, while inflation in vegetables decreased to 19.71 per cent.
To tame stubbornly high inflation, the RBI has hiked the key interest rate three times this year to 5.40 per cent.
Rising prices of food items and crude oil pushed the WPI inflation to a new high of 15.08 per cent in May.
The WPI-based inflation was 14.55 per cent in March and 10.74 per cent in April last year.
WPI Inflation in February was at 13.11 per cent, while in March last year, it was 7.89 per cent.
Inflation in food articles, however, eased to 8.19 per cent in February from 10.33 per cent. Vegetable inflation was 26.93 per cent in February, against 38.45 per cent in the previous month.
Inflation in manufactured items was 9.42 per cent in January, against 10.62 per cent in the previous month. In fuel and power basket, the rate of price rise was 32.27 in January, a tad lower than 32.30 per cent in December.
WPI inflation has remained in double digits for the ninth consecutive month beginning April. Inflation in November was 14.23 per cent, while in December 2020 it was 1.95 per cent.
The Commerce and Industry Ministry said that high rate of inflation in October 2021 is primarily due to rise in prices of mineral oils, basic metals, food products, crude petroleum & natural gas, chemicals and chemical products etc as compared to the corresponding month of the previous year.
WPI inflation remained in double-digit for the sixth consecutive month. In August, it was 11.39 per cent. In September 2020, inflation was 1.32 per cent.
Inflation in food articles eased for the fourth straight month, recording (-) 1.29 per cent in August, from zero per cent in July, even as onion and pulses prices spiked.
WPI inflation remained in double-digit for the third consecutive month in July, mainly due to a low base of last year. WPI inflation was (-) 0.25 per cent, in July 2020.
"The annual rate of inflation is 12.07 per cent for the month of June, 2021 (over June, 2020) as compared to –1. 81 per cent in June 2020," the Commerce and Industry Ministry said
Snapping the five straight months of uptick, the wholesale price index (WPI)-based inflation in June softened as prices of food articles and crude oil eased, even though manufactured products hardened.
India's annual rate of inflation based on wholesale prices sequentially rose to 10.49 per cent in April from a rise of 7.39 per cent in March.
The WPI inflation was 2.03 per cent in January and 2.26 per cent in February last year.
The wholesale price-based inflation rose to 2.03 percent in January 2021, even as food prices cooled.
Inflation in vegetables and potatoes was (-) 20.82 per cent and 22.04 per cent during January, while in the fuel and power basket it was (-) 4.78 per cent.
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