India's wholesale inflation at -1.81 percent in June

Source: Xinhua | 2020-07-15

India's wholesale price index (WPI) contracted by 1.81 percent in June, data released by the federal commerce and industry ministry said on Tuesday.

"The annual rate of inflation, based on monthly WPI, stood at -1.81 percent (provisional) for the month of June, 2020 (over June 2019) as compared to 2.02 percent during the corresponding month of the previous year," a statement issued by the ministry said.

According to the official data, the WPI for "All Commodities" (Base: 2011-12=100) stood at 119.2 and WPI based rate of inflation stood at -1.57 percent.

"Indices for the month of April 2020 are finalized in the light of improved response rate from the selected sources," the ministry said.

The index for primary articles increased by 2.28 percent to 139.3 (provisional) in June 2020 from 136.2 (provisional) for the month of May 2020. Prices of Crude Petroleum and Natural Gas (16.30 percent), Food Articles (1.97 percent) and Non Food Articles (1.71 percent) increased as compared to May 2020. Prices of Minerals (-1.72 percent) declined as compared to May 2020.

The ministry said food index consisting of "Food Articles" from primary articles group and "Food Products" from Manufactured Products group have provisionally increased from 146.1 in May 2020 to 148.6 in June 2020. The annual rate of inflation based on WPI Food Index increased from 2.31 percent in May 2020 to 3.05 percent in June 2020.

Wholesale inflation, or the rate of increase in wholesale prices, is determined by the WPI.

In May the WPI stood at -3.21 percent.