Now Reading: Wholesale inflation cools slightly to 9.78% in July
-
01
Wholesale inflation cools slightly to 9.78% in July
India's wholesale inflation eased marginally to 9.78% in July from 9.87% in June, according to provisional data from the Ministry of Commerce and Industry. Fuel and power inflation remained elevated at 20.05%,…
The Story in Brief
India's wholesale inflation eased marginally to 9.78% in July from 9.87% in June, according to provisional data from the Ministry of Commerce and Industry. Fuel and power inflation remained elevated at 20.05%, while manufactured products rose to 8.29% and primary articles to 8.52%. The WPI Food Index climbed to 6.65% year-on-year.
Mineral oils, food articles, basic metals, and chemicals were the main drivers of July inflation. The government revised May's final WPI inflation upwards to 9.88% from the provisional 9.68%. The all-India trial input Producer Price Index for manufacturing stood at 105.9 in July.
The Indian Opinion
The marginal dip in WPI from 9.87% in June to 9.78% in July offers little comfort when fuel and power inflation remains above 20%. The government's narrative of 'softening' prices ignores that food inflation is still 6.65% and primary articles rose to 8.52%. Wholesale pain has not yet reached retail shelves fully. Watch the August numbers: if fuel prices stay elevated, today's relief will vanish.
Source: assamtribune.com
This story was synthesised by AI from the source linked above.
