India's WPI rose to 1.62% last month, food articles inflated at 8.18%
AdvertisementIndia’s wholesale inflation rose even more in June, owing to pricier vegetables and a small uptick in manufactured goods. This suggests that industry is getting some relief from declining prices.
Wholesale inflation is measured by the
Wholesale food inflation jumped to 8.18% and this jump was led by potatoes and pulses that were dearer by 64.48% and 26.61%, respectively, from a year before.
The inflation for primary articles was pegged at 5.5% in June, while the index for manufactured products grew 1.17% from 0.91% in May. This fall in wholesale prices was lower at 3.62% in June as compared to May’s 6.14% fall.
These inflation data have put on hold the expectations of a rate cut in RBI's monetary policy review, scheduled for 9 th August.
Popular on BI
- India's foreign exchange reserves fall to $573 bn
- India's retail inflation dropped below 7% in July for the first time in four months
- Samsung announces Galaxy Watch5 Series with sleep tracking and IR temperature sensor
- India's exports rose to $36 billion in July; trade deficit almost triples
- Rupee, bond yield ends almost flat ahead of the long weekend