India’s WPI Inflation Rate Eases To 15.18 Per Cent, Marginally Lower Than May Numbers | Deets Here

Retail inflation remained above the Reserve Bank's comfort level for the sixth month in a row and was at 7.01 per cent in June.

Written by: India.com News Desk Edited by: Victor Dasgupta

Updated: July 14, 2022, 3:51 PM IST

Share

Share Article

• Facebook
• WhatsApp
• X
• Email
• Telegram
• Linkedin

https://www.india.com/business/indias-wpi-inflation-rate-eases-to-15-18-per-cent-deets-here-5512799/ Copy

The high rate of inflation in June 2022 is primarily due to a rise in prices of mineral oils

New Delhi: The annual rate of inflation based on the All-India Wholesale Price Index (WPI) number is 15.18 per cent (Provisional) for the month of June 2022 (over June 2021), marginally lower than the WPI number of 15.88 per cent in May 2022, the Centre said on Thursday.

The high rate of inflation in June 2022 is primarily due to a rise in prices of mineral oils, food articles, crude petroleum & natural gas, basic metals, chemicals & chemical products, food products etcetera as compared to the corresponding month of the previous year.

Here are some of the key takeaways:

• The WPI inflation in June has bucked the three-month rising trend but remained in double-digit for the 15th consecutive month beginning April last year.
• Inflation in food articles in June was 14.39 per cent, as prices of vegetables, fruits and potato witnessed a sharp spike over the year-ago period.
• The wholesale price inflation in food articles was 12.34 per cent in May.
• The rate of price rise in vegetables was 56.75 per cent, while in potato and fruits, it was 39.38 and 20.33 per cent, respectively.
• In the fuel and power basket, inflation was 40.38 per cent, while in manufactured products and oil seeds, it was 9.19 per cent and 2.74 per cent, respectively.
• Inflation in crude petroleum and natural gas was 77.29 per cent in June.
• The RBI mainly looks at retail inflation to frame monetary policy.
• The next meeting of the RBI’s interest-setting monetary policy committee is on August 2-4.

Retail inflation remained above the Reserve Bank’s comfort level for the sixth month in a row and was at 7.01 per cent in June. The RBI projected inflation to be at 7.5 per cent in the June quarter (Q1) and 7.4 per cent in the September quarter (Q2), before easing to 6.2 per cent in the December quarter (Q3) and further to 5.8 per cent in the March quarter (Q4) this fiscal.

(With Agency Inputs)