India’s wholesale inflation rate rises to 5.77% in June
New Delhi: Rise in prices of manufactured products along with that of food articles and fuel types accelerated India’s wholesale inflation rate at 5.77 per cent compared to 4.43 per cent in the previous month, official data showed on Monday.
According to the Ministry of Commerce and Industry, last month’s WPI rate was also higher on year-on-year (YoY) basis. It had risen by 0.90 per cent in June 2017.
“The annual rate of inflation, based on monthly WPI, stood at 5.77 per cent (provisional) for June 2018 (over June 2017) as compared to 4.43 per cent (provisional) for the previous month and 0.90 per cent during the corresponding month the previous year,” the Ministry said.
“Build up inflation rate in the financial year so far was 2.49 per cent compared to a build up rate of (-) 0.44 per cent in the corresponding period of the previous year.”
On a sequential basis, the expenses during the month under consideration on primary articles, which constitute 22.62 per cent of the WPI’s total weightage, rose by 5.30 per cent, from a marginal rise of 3.16 per cent in May 2018.
Among primary articles, food articles, which has a weightage of 15.26 per cent in the index, edged up last month by 1.80 per cent from a acceleration of 1.60 per cent reported for May.
The cost of fuel and power, which commands a 13.15 per cent weightage in the index, increased at a fast pace of 16.18 per cent during the month, from a rise of 11.22 per cent in May.
Similarly, expenses on manufactured products increased by 4.17 per cent, from 3.73 per cent in the previous month.
On a YoY basis, onion prices in June soared higher by 18.25 per cent and potatoes by 99.02 per cent.
Similarly, the prices of both high-speed diesel and petrol climbed higher than in the previous month of last year, by 17.45 per cent and 21.63 per cent.