WPI Inflation India, July 2022: India’s wholesale inflation eases to 13.93% in July, govt knowledge exhibits

WPI Inflation Rate in India (July 2022): India’s wholesale inflation eased to 13.93 per cent in July, knowledge launched by the Ministry of Commerce & Industry confirmed.

The wholesale value index (WPI) had spiked to fifteen.18 per cent through the month of June, whereas the WPI for May was revised to 16.63 per cent from 15.88 per cent, the information confirmed. The WPI in July 2021 was at 11.57 per cent.

Despite the easing within the wholesale inflation knowledge, the WPI continues to stay within the double digits for the sixteenth consecutive month starting April 2021.

“Inflation in July, 2022 is primarily contributed by rise in prices of mineral oils, food articles, crude petroleum & natural gas, basic metals, electricity, chemicals & chemical products, food products etc. as compared to the corresponding month of the previous year,” the commerce ministry assertion stated.

The meals articles phase eased to 10.77 per cent in July, the information confirmed. In the month previous to that, this was 14.39 per cent. The month-on-month decline might be attributed to a steep fall in vegetable costs.

Vegetable costs eased to 18.25 per cent in July from 56.75 per cent in June, the information confirmed. Prices of potato climbed 53.50 per cent whereas that of onions slipped (-)25.93 per cent. Prices of fruits witnessed a spike of 29.44 per cent final month from 20.33 per cent in June, whereas that of milk eased to five.45 per cent from 6.35 per cent a month in the past. Cereal costs rose to 9.76 per cent in July up from 7.99 per cent a month in the past whereas wheat rose 13.61 per cent final month, from 10.34 per cent in June.

The gas and energy phase surged 43.75 per cent final month from 40.38 per cent in June. Petrol value eased to 55.30 per cent from 57.82 per cent month in the past, whereas HSD (High-Speed Diesel) climbed 72.41 per cent from 54.93 per cent. LPG costs eased to 32.00 per cent from 53.20 per cent.

The manufactured merchandise phase eased to eight.16 per cent in July from 9.19 per cent within the month prior.

In a separate knowledge launched on Friday, the nation’s retail inflation, which is measured by the Consumer Price Index (CPI), eased to a five-month low of 6.71 per cent within the month of July.