Now Reading: WPI Inflation Eases to 9.78% in July; Food, Fuel Prices Cool
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WPI Inflation Eases to 9.78% in July; Food, Fuel Prices Cool
India's wholesale price index (WPI) inflation eased to 9.78% in July, NDTV Profit reports, as food and fuel prices cooled. The index had been climbing since the start of the fiscal year…
The Story in Brief
India's wholesale price index (WPI) inflation eased to 9.78% in July, NDTV Profit reports, as food and fuel prices cooled. The index had been climbing since the start of the fiscal year in April, driven by the West Asia war and the blockade of the Strait of Hormuz, through which most of the country's crude oil is imported.
The easing is marginal but offers some respite after months of rising input costs. The data comes amid ongoing concerns over energy security for the import-dependent economy.
The Indian Opinion
The marginal fall in WPI inflation offers some relief, but 9.78% is still painfully high for businesses that pass on costs to consumers. Some commentators will call it a victory against inflation; others will say it is too little. The truth is neither: one month's data does not break a trend. Watch whether food prices keep cooling or the Middle East crisis pushes crude higher again. The next WPI number will tell us if this is a pause or a reversal.
Source: ndtvprofit.com
This story was synthesised by AI from the source linked above.
