New Delhi: Inflation based on wholesale prices fell marginally last month due to softness in the prices of crude oil and food items. According to the data released by the central government today on July 14, the wholesale inflation rate in June compared to the month of May is marginally soft. Together it stood at 12.07 percent. In the month of May, this figure was 12.94 percent. Despite the fall in wholesale inflation in June, it remained in double digits for the third consecutive month.
Last year in June 2020, the wholesale inflation rate was (-)1.81 percent. After five consecutive months of growth, wholesale inflation moderated in the month of June. Despite the rise in the prices of manufactured products, this decrease was seen due to the softening of the prices of food items and crude oil. WPI crossed 10% for the third consecutive month. The rate of wholesale inflation was 12.07% in June, 12.94% in May and 10.74% in April.
According to the Ministry of Commerce and Industry, such a high rate of inflation in June 2021 with low base effect and increase in the price of mineral oils such as petrol, diesel, naphtha, ATF, furnace oil and basic metal, food products, chemical products such as manufactured in comparison to June 2020. Due to the rise in the prices of the products. Oil and power basket prices increased by 37.61 per cent in May, 32.83 per cent in June and 4.31 per cent in May, while prices of onions rose by 3.09 per cent in May. In contrast, in the case of manufactured products, its inflation increased from 10.83 per cent in May to 10.88 per cent in June.
