2 months ago
21
The WPI measures the change in prices of goods sold and traded in bulk by wholesale businesses with other companies read more
 "India's June 2024 WPI inflation rises to 3.36% due to surge in price of food articles")
Representational Image. Source: PTI.
India’s wholesale price index (WPI)-based inflation in June 2024 rose to a 16-month high of 3.36 per cent (year-on-year), the data released by the Ministry of Commerce and Industry said on Monday.
WPI inflation rises due to costlier food items
“Positive rate of inflation in June, 2024 is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum and natural gas, mineral oils, other manufacturing etc,” the ministry said.
In May, India’s WPI-based inflation was at 2.61 per driven by costlier food articles, while in April it was at 1.19 per cent.
The month over month change in WPI for June 2024 stood at 0.39 per cent as compared to May 2024.
The WPI measures the change in prices of goods sold and traded in bulk by wholesale businesses with other companies.
While the CPI tracks prices of goods and services purchased by consumers, WPI tracks factory gate prices and retail prices.
As per the data released by the ministry, the prices of food articles in June 2024 rose 2.96 per cent and minerals increased 1.47 per cent as compared to May 2024.
“Prices of non-food articles (-0.32 per cent) and crude petroleum & natural gas (-0.57 per cent) declined in June, 2024 as compared to May, 2024,” the data said.
Out of the 22 National Industrial Classification (NIC) two-digit groups for manufactured products, eight groups witnessed an increase in prices, while 10 groups saw a decrease in prices. Four of the groups showed no change, the data said.
Food products, chemicals and chemical products, textiles, rubber and plastics products, motor vehicles, trailers and semi-trailers saw month-over-month increases in prices.
On the other hand, basic metals, other non-metallic mineral products, fabricated metal products, except machinery and equipment, pharmaceuticals, medicinal chemical and botanical products, machinery and equipment, witnessed a decline in prices as compared to May 2024.
With inputs from agencies
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
English (US) ·