WPI inflation rises to 5.77% in June on costlier vegetables, fuel

November WPI inflation jumps to 3.93 per cent on high onion veggie prices

Driven by some food items and fuel prices, the latest price data released by the commerce and industry ministry shows the Wholesale Price Index (WPI) witnessing a growth of 4.43 percent in May and 0.90 percent in June 2017.

On a monthly basis, wholesale prices increased by 1.1 percent, compared to a 0.9 percent rise in May.

Wholesale inflation rate, measured by Wholesale Price Index (WPI), is a marker for price movements in bulk buys for traders and broadly mirrors trends in shop-end prices.

The WPI numbers came in way higher than estimates pegged at 4.93%.

Inflation based on wholesale prices shot up to 5.77% in June on increasing prices of vegetables and fuel items. The index for "Crude Petroleum & Natural Gas" group rose by 8.1 per cent to 95.2 (provisional) from 88.1 (provisional) for the previous month due to higher price of crude petroleum (11 per cent) and natural gas (1 per cent).

Inflation in food articles stood at 1.80 per cent in June 2018, as against 1.60 per cent in the preceding month.

Inflation in manufactured products stood at 4.17 per cent in June against 3.73 per cent in May.

Potato inflation was at a peak of 99.02%, against 81.93% in May. The RBI governor headed Monetary Policy Committee will be meeting later this month to review interest rate regime. Deflation continued in pulses at 20.23% in June. Price rise in onion was 18.25% during June, as against 13.20% in the preceding month.

Growth in the Wholesale Price Index (WPI) accelerated in June from 4.43% in May, and is far higher than the 0.9% seen in June of a year ago.

While hiking interest rates after a gap of more than four years, RBI had projected retail inflation to rise to 4.7% in the October-March period of the current fiscal, as against the earlier projection of 4.4%.

The price of Indian basket of crude surged from $66 a barrel in April to around $74 now.

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