Wholesale Inflation | Big drop in wholesale inflation, WPI down to -4.12% in June

File Photo New Delhi. WPI inflation declined sharply to minus 4.12 per cent in June due to fall in prices of food, fuel and manufactured products. This is its lowest level in nearly eight years. The Ministry of Commerce and Industry gave this information on Friday while releasing the inflation data based on the Wholesale Price Index. Earlier in May, the wholesale inflation rate was below zero at 3.48 percent while in June 2022, a year ago, the inflation rate was 16.23 percent. The wholesale inflation data for June is the lowest since October 2015. The wholesale inflation at that time was minus 4.76 per cent. However, retail inflation rose to 4.8 per cent in the same month as compared to the fall in wholesale inflation, as against 4.3 per cent in May. The decline in WPI inflation in June was mainly due to lower prices of mineral oils, food products, basic metals, crude oil and natural gas and clothing, the ministry said in a release. Also read: According to the government data, the inflation rate of food articles declined by 1.24 percent in June. Inflation in the fuel and power segment declined by 12.63 per cent in June as against a decline of 9.17 per cent in May. Wholesale inflation in manufactured products declined by 2.71 per cent during the period under review as against 2.97 per cent in May. Wholesale prices of non-food items declined by 2.40 percent in June, while those of crude oil and natural gas declined by 3.01 percent. On the other hand, the wholesale prices of minerals declined by 4.32 per cent as compared to May. In respect of manufactured products, the wholesale prices of 11 groups declined in June while those of nine groups increased. The declining manufactured groups included basic metals, chemicals and chemical products, textiles, rubber and plastic products, and paper and paper products. (agency)