Wholesale inflation has declined for the second consecutive month. Although this is the 16th consecutive month when the inflation rate is above 10 percent.
Image Credit source: PTI
In the month of July, there has been relief in the wholesale inflation rate. Inflation fell below the level of 14 percent with a fall. A month ago, the wholesale inflation rate was above 15 percent. wholesale inflation rate This decline has been seen due to the decrease in food inflation. Wholesale inflation has declined for the second consecutive month. However, this is the 16th consecutive month when the inflation rate is above 10 percent. Vegetable prices declined during July, although fuel inflation remained on an upward trend.
WPI (Wholesale Price Index) inflation at 13.93% for July 2022 vs 15.18% in June 2022. pic.twitter.com/m1k1bUg9AP
— ANI (@ANI) August 16, 2022
Where did the inflation rate reach?
According to the data that came today, the inflation rate based on wholesale prices in July has come down to 13.93 percent. The fall in inflation is due to the moderation in food prices and wholesale prices of manufactured products. Last month, the wholesale inflation rate was at 15.18 percent and before that in May, the inflation rate reached a record high of 15.88. At the same time, in July last year, the inflation rate was at 11.57 percent. At the same time, the food inflation rate came down to 10.77 percent during the month, which was 14.39 percent in the month of June. The fall in food prices is due to the fall in the prices of vegetables, the inflation based on wholesale prices of vegetables came down to 18.25 per cent during July as compared to 56.75 per cent in the month of June.
where did inflation rise
There has been a jump in the inflation of fuel and power basket during July. In July, the inflation rate of the segment stood at 43.75 percent. In June, this figure was at 40.38 percent. Due to the increase in crude oil prices, oil prices have remained stable for more than two months. However, there has been a jump in the prices of crude and coal. The Reserve Bank keeps an eye on the retail inflation rate for its policy. Which has remained consistently above the fixed limit of 2 to 6 percent. However, there has been a decline in it in July and it has come down to 6.71 percent.