Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
BW Businessworld

India’s Wholesale Inflation Eases To 13.93% In July: Centre

India’s consumer price-based (CPI) inflation declined to 6.71 per cent in July on an annual basis, from 7.01 per cent in June, amid easing food and oil prices

Photo Credit :

1473836645_U5lDnl_pulses_vendor1_pti-870.jpg

India's inflation based on the wholesale price index (WPI) stood at 13.93 per cent in July 2022 compared with 15.18 per cent in June 2022, according to the data from the Ministry of Commerce and Industry released on Tuesday.

The ministry said that inflation in July 2022 was primarily contributed by rising in prices of mineral oils, food articles, crude petroleum, natural gas, food products etc. as compared to the corresponding month of the previous year. 

Talking about the WPI food index, the rate of inflation decreased from 12.41 per cent in June 2022 to 9.41 per cent in July 2022, it said. 

Meanwhile, India’s consumer price-based (CPI) inflation declined to 6.71 per cent in July on an annual basis, from 7.01 per cent in June, amid easing food and oil prices. 

However, the numbers stayed above the Reserve Bank of India's tolerance band of 2 per cent to 6 per cent for the seventh month in a row. 

The RBI retained the inflation forecast for FY23 at 6.7 per cent amid "geopolitical shocks" and hoped that inflationary pressures would ease with the pick-up in Kharif sowing and supply chain improvements.

The data also showed that the headline inflation declined to 0.46 per cent from 0.52 per cent in the previous month. 

The decrease in retail expansion can be credited to cost cuts on edible oil ranging from 0.4 per cent to 6.4 per cent. 

The overall food inflation came in at 6.75 per cent in July from 7.75 per cent in June.


Tags assigned to this article:
wpi inflation india inflation