Wholesale price inflation eases to 13.93% in July against 15.18% in June

The Ministry of Commerce & Industry released the wholesale price index for the month on July on Tuesday. The annual rate of inflation based WPI has eased to 13.93 per cent in July, as against 15.18 per cent in June. 

“Inflation in July, 2022 is primarily contributed by rise in prices of mineral oils, food articles, crude petroleum & natural gas, basic metals, electricity, chemicals & chemical products, food products etc. as compared to the corresponding month of the previous year,” the ministry said. 

The month over month change in WPI index for July stood at -0.13% per cent as compared to June, 2022, the ministry added. 

WPI food index that consists of food articles from the Primary Articles group and food product from the Manufactured Products group, decreased from 178.4 in June to 174.4 in July. The rate of inflation based on WPI Food Index decreased from 12.41 per cent in June to 9.41 per cent in July.

The index for the primary articles declined by 2.69 per cent to 177.5 in July from 182.4 in June. Prices of minerals (0.96 per cent) decreased in July, as compared to June. Prices of food articles (-2.56 per cent), non-food articles (-2.61 per cent), and crude petroleum and natural gas (-5.05 per cent) declined in July as against June. Food articles include items such as cereals, paddy, wheat, pulses, vegetables, potato, onion, fruits, milk, and eggs, meat and fish. 

Fuel and power index that include items such as LPG, petroleum and HSD, increased by 6.56 per cent to 165.6 in July from 155.4 in June. Prices of mineral oils and electricity increased 7.95 per cent and 6.38 per cent in July as compared to June.

The index for manufactured products declined by 0.42 per cent to 143.1 in July from 143.7 for June. 

“Out of the 22 NIC two-digit groups for manufactured products, 9 groups have witnessed an increase in prices while 12 groups have witnessed a decrease in prices. The increase in prices is mainly contributed by other manufacturing, machinery and equipment, fabricated metal products, except machinery and equipment, furniture, other transport equipment, wearing apparel, tobacco products, leather and leather products, computer, electronic and optical products etc. in July, 2022 as compared to June, 2022. Some of the groups that have witnessed decrease in prices are food products, basic metals, textiles, wood and of products of wood and cork, rubber and plastics products, electrical equipment, chemical and chemical products etc. in July, 2022 as compared to June, 2022,” the ministry said. 

Also read: WPI inflation for May at 15.88% as against 15.08% in April

Also read: WPI inflation eases to 15.18% in June as against 15.88% in May