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Wholesale inflation in India falls to 3-month low in July

New Delhi: Wholesale inflation in India declined to3-month low in July. The wholesale price index (WPI) based inflation is at  2.04 per cent in July. The wholesale price index (WPI) based inflation was at 3.36 per cent in June.

The annual rate of inflation for Primary Articles of WPI stood at 3.08 per cent in July 2024. It was at 8.80 per cent in June 2024. The annual rate of inflation for Fuel & Power of WPI increased to 1.72 per cent in July 2024, from 1.03 per cent in June 2024.

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The annual rate of inflation of the Manufactured Products group of WPI increased to 1.58 per cent in July 2024, from 1.43 per cent in June 2024.

Meanwhile, retail inflation fell to a 5-year low of 3.54 per cent in July. The retail inflation has fallen below the RBI’s medium-term target of 4%. The Consumer Price Index (CPI) based retail inflation has reached its lowest level in five years. Inflation in the food basket was 5.42 per cent in July, down from 9.36 per cent in June.

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 are made after reviewing the CPI.

 

 

 

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