WPI inflation shoots up to 2-year high, at 3.55% in July
The Wholesale Price Index-based (WPI) inflation for the July month of fiscal year 2016-17 (FY17) rose up 3.55% as compared to minus 4.00% in the same month of the previous fiscal. This is the most rise in two-years.
WPI inflation was 1.62% in the June month this year, said the Press Information of Bureau (PIB) statement citing the Ministry of Commerce and Industry data on Tuesday.
"Build up inflation rate in the financial year so far was 4.91% compared to a build up rate of 0.85% in the corresponding period of the previous year," the Ministry of Commerce and Industry said in a statement.
The index for primary articles during the month surged by 9.38% as compared to minus 3.98% in the same period of previous fiscal, showed the data from the Ministry of Commerce and Industry. It was 5.50% in the June month.
The food articles index in July month increased by 11.82% as against minus 1.20% in the corresponding period of last fiscal. It was 8.18% in the June month.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.