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India’s wholesale inflation eased to a two-year low of -0.58% in July, marking the second consecutive month of negative growth
WPI Data
India’s wholesale inflation eased to a two-year low of -0.58% in July, marking the second consecutive month of negative growth, according to WPI data released by the government on Thursday, August 14. The decline was largely driven by lower prices of food articles, mineral oils, crude petroleum, natural gas, and basic metals.
In comparison, WPI stood at -0.13% in June, a 20-month low, and at 0.39% in May, the lowest in 14 months. Unlike the Consumer Price Index (CPI), which measures retail prices paid by consumers, the Wholesale Price Index tracks factory-gate prices of goods sold in bulk before they reach retail markets. The index, released by the Ministry of Commerce and Industry, is based on 2011–12 prices and covers three broad categories — primary articles, fuel and power, and manufactured products.
On a month-on-month basis in July, prices rose for crude petroleum and natural gas (2.56%), non-food articles (2.11%), food articles (0.96%), and mineral oils (1.98%). However, prices of minerals (-1.08%), coal (-0.44%), and electricity (-0.36%) declined.
Within manufactured products, out of 22 NIC two-digit groups, nine recorded price increases, nine saw declines, and four remained unchanged. Price gains were noted in segments like other manufacturing, transport equipment, motor vehicles, non-metallic mineral products, and furniture. In contrast, declines were seen in basic metals, fabricated metal products, food products, chemicals, and paper-based goods.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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