The Wholesale Price Index (WPI) or WPI inflation in June eased to (-) 4.12 per cent from (-) 3.48 per cent in May, the Ministry of Commerce & Industry said on Friday.
The wholesale inflation recorded in June was the lowest since October 2015.
“The annual rate of inflation based on all India Wholesale Price Index (WPI) number is(-) 4.12% (provisional) for the month of June, 2023 (over June, 2022) against (-) 3.48% recorded in May, 2023,” the ministry said.
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The commerce ministry attributed the decline in the rate of WPI inflation “primarily due to fall in prices of mineral oils, food products, basic metals, crude petroleum & natural gas and textiles.”
June’s WPI inflation for food contracted 1.24 per cent on a yearly basis.
Inflation in primary articles slowed down to (-) 2.87, for fuel and power, it contracted (-) 12.63, and for manufactured products, it deflated (-) 2.71 per cent.