India’s wholesale inflation edged down marginally in July, signalling persistent price pressures across key sectors despite easing fuel costs, with food prices continuing to drive inflation upwards.
India’s wholesale inflation eased only slightly in July, pointing to continued price pressure across the economy even as fuel costs softened. The Ministry of Commerce and Industry said the Wholesale Price Index rose 9.78% from a year earlier, down from 9.87% in June, with the overall index slipping to 110.0 from 110.2 a month earlier.
The data showed a mixed picture beneath the headline rate. Inflation in primary articles climbed to 8.52% in July from 7% in June, while manufactured products rose 8.29% compared with 7.48% previously. Fuel and power remained the most volatile category, but its inflation rate eased sharply to 20.05% from 27.41%.
Food remained a key driver of wholesale price growth. The WPI food index rose 6.65% year-on-year in July, up from 6.14% in June, with mineral oils, food articles, basic metals, non-food articles, food products and chemicals among the main contributors, according to the ministry’s provisional figures.
The July reading followed a stronger June print, when wholesale inflation accelerated to 9.87% from 9.68% in May, as reported by Business Standard and Rediff. The ministry also revised May’s final WPI estimate upward to 110.1 from a provisional 109.9, lifting the final inflation rate for that month to 9.88% from 9.68%. It said the May figures were compiled with a weighted response rate of 98.14%.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
