New Delhi, July 15 (Udaipur Kiran): There is concerning news on the inflation front for the public. The Wholesale Price Index (WPI) based inflation rate surged to a 16-month high of 3.36% in June. The inflation rate was 2.61% in May and 1.26% in April.
The Ministry of Commerce and Industry, in a statement released on Monday, stated that the WPI inflation rate increased to 3.36% in June. The ministry attributed the rise in wholesale inflation mainly to the increase in prices of food items, manufactured food products, crude oil, natural gas, and mineral oils. In comparison, the WPI inflation rate stood at 4.12% in June 2023.
According to the ministry, the continuous rise in the prices of food and beverages has contributed to the ongoing increase in wholesale inflation. The data indicated that the Consumer Price Index (CPI) also rose to a four-month high of 5.08% in June, influenced by the rising food prices.
The ministry’s data showed that food inflation in June escalated to 8.68%, up from 7.40% in May. Inflation for daily essential items increased from 7.20% to 8.80%. The WPI inflation rate for manufacturing products rose from 0.78% to 1.43%. However, during this period, the WPI inflation rate for fuel and electricity decreased from 1.35% to 1.03%.
It is noteworthy that the retail inflation rate also jumped to 5.08% in June, marking its highest level in four months.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.