Business News
Home > Business News
India's wholesale price inflation sequentially eases to 11.16% in July
TIWN
TIWN
PHOTO : TIWN
New Delhi, Aug 17 (TIWN) Easing prices of food products, primary articles sequentially decelerated India's July 2021 wholesale inflation.
Accordingly, the annual rate of inflation, based on wholesale prices, rose to 11.16 per cent last month from 12.07 per cent in June.
However, on a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry has risen exponentially over July 2020.
The inflation rate had stood at (-)0.25 per cent in July 2020.
"The annual rate of inflation is 11.16 per cent (Provisional) for the month of July, 2021 (over July, 2020) as compared to ((-)0.25 per cent) in July, 2020. The high rate of inflation in July 2021 is primarily due to low base effect and rise in prices of crude petroleum and natural gas; mineral oils; manufactured products like basic metals; food products; textiles; chemicals and chemical products etc. as compared the corresponding month of the previous year," the ministry said in its review of 'Index Numbers of Wholesale Price in India' for July.
Add your Comment
Comments (0)
More Business News
- With April series having expired, expect markets to turn volatile
- IMF expects India to rev up global growth as China falters, backs Modi government's economic policies
- realme set to shake up market: Launching fastest entry-level 5G smartphone 'C65' under Rs 10k
- India's industrial production accelerates to 5.7pc in Feb
- India records 17 pc jump to become 4th largest exporter of digital services: WTO report