Wholesale inflation rate declined by 4.12 percent in June, know the condition of other food products

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New Delhi: The rate of wholesale inflation declined to 4.12 percent in June due to lower prices of fuel and manufactured products. The Ministry of Commerce and Industry gave this information while releasing the inflation data based on the Wholesale Price Index on Friday. On a month-to-month basis, there has been a decline of 0.40 per cent in the Wholesale Price Index (WPI) based inflation in June this year. “The decline in inflation in June 2023 is mainly due to decline in prices of mineral oils, food products, basic metals, crude petroleum and natural gas and textiles,” said a government release. According to official data released on July 12, retail inflation rose to 4.81 percent in June. The increase in retail inflation was mainly due to higher food prices.

According to the wholesale inflation data, “Inflation in the Wholesale Price Index for food articles declined to (-) 1.24 per cent in June from (-) 1.59 per cent in May.” On the other hand, inflation in the fuel and power basket declined to (-) 12.63 per cent in June. It was (-) 9.17 percent in May last month. The inflation rate in manufactured products was (-) 2.71 per cent in the month as against (-) 2.97 per cent in May.

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