Wholesale inflation falls to lowest in two years - Check details
The annual rate of inflation, based on monthly wholesale price index (WPI), stood at 2.02 percent (provisional) for the month of June, 2019 over June, 2018.
The annual rate of inflation, based on monthly wholesale price index (WPI), stood at 2.02 percent (provisional) for the month of June, 2019 over June, 2018. It was 2.45 percent (provisional) for the previous month and 5.68 percent during the corresponding month of the previous year. The decline in inflation was due to fall in food items, and fuel and power items.
The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group decreased from 5.10 percent in May, 2019, to 5.04 percent in June, 2019, said a statement released by the Ministry of Commerce & Industry.
The wholesale inflation in June is the lowest in 23 months. In July 2017 it was at 1.88 percent. Manufactured items declined to 0.94 per cent in June, compared to 1.28 per cent in May. Wholesale inflation for April was at 3.24 per cent after it was revised from provisional 3.07 percent.
Build up inflation rate (an important measure to gauge inflation) in the financial year so far was 1.33 percent compared to a buildup rate of 2.41 percent in the corresponding period of the previous year.
The index for power and fuel declined by 1.3 percent from the previous month. The index for manufactured products remained unchanged. The index for 'Manufacture of Textiles' declined by 0.3 percent from the previous month due to lower price of viscose yarn, synthetic yarn andtexturised and twisted yarn (1 percent each). However, the price of manufacture of knitted and crocheted fabrics and manufacture of other textiles (1 percent) moved up.
Data released by the Central Statistics Office (CSO) earlier showed that CPI inflation rose to 3.18 percent in June 2019.