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Wholesale inflation eases to 9.8% in July
India’s wholesale price inflation eased marginally to 9.8% in July from a 27-month high of 9.9% in June, official data showed, according to The Times of India. Inflation was minus 0.8% in…
The Story in Brief
India’s wholesale price inflation eased marginally to 9.8% in July from a 27-month high of 9.9% in June, official data showed, according to The Times of India. Inflation was minus 0.8% in July last year. This was the third consecutive month in which wholesale inflation stayed above 9%.
Softer energy prices helped cool inflation in the fuel and power segment to 20% from 27.4% in June. Crude and mineral oil prices rose 27% and 32.4%, respectively, but the pace was lower than in the previous month. Manufactured products and primary articles recorded faster price increases.
The Indian Opinion
The headline relief is small, and claims that inflation is easing broadly would be premature. Energy prices cooled, but wholesale inflation remains close to 10% and has stayed above 9% for three months. The figures also do not directly describe what households pay at retail shops. The next WPI release should show whether fuel prices keep falling and whether manufactured goods reverse their July acceleration.
Sources (2): ndtvprofit.com, timesofindia.indiatimes.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
