Wholesale price inflation rises in July
NEW DELHI: India’s wholesale price inflation (WPI) rate picked up in July after easing for four straight months, data released by the commerce and industry ministry showed on Monday. Wholesale inflation eased to the slowest in 11 months in June.
The wholesale price index rose 1.88% in July from a year earlier, compared with an increase of 0.63% in July 2016, and 0.9% in June.
“The turnaround in inflation for primary food items and minerals, the former on account of the spike in vegetable prices and the latter led by an unfavorable base effect, caused the WPI inflation to more-than-double to 1.9% in July 2017 from 0.9% in June 2017,” said Aditi Nayar, principal economist at ICRA.
Primary articles inflation rose 0.46% led by a 21.95% rise in vegetable inflation. Manufactured product index grew 2.18% whereas fuels inflation rose 4.37%