New Delhi: The wholesale price-based inflation remained in the negative territory in July. The wholesale price-based inflation was at (-) 1.36% in the last month. This is for the fourth straight month that the inflation is remaining in negative.
The wholesale price index (WPI) based inflation rate has been in the negative since April and was (-)4.12%. In July last year it was 14.07%. Inflation in food articles skyrocketed 14.25% in July against 1.32% in June. Fuel and power basket inflation eased to (-)12.79% in July from (-)12.63% in June. In manufactured products, the inflation rate was (-)2.51% as against (-)2.71% in June.
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‘Decline in the rate of inflation in July, 2023 is primarily contributed by fall in prices of mineral oils, basic metals, chemical & chemical products, textiles and food products,’ the commerce and industry ministry said.
Wholesale Price Index (WPI) is a measure of the average change in the price of goods at a wholesale level or in the wholesale market. Consumer Price Index (CPI) is a price index that calculates price changes of goods and services that a consumer has to pay in the retail market. The monetary police of Reserve Bank of India is made after reviewing the CPI.
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