
WPI inflation falls further in June
This is the 13th consecutive month when the wholesale price index (WPI) has declined.
This is the 13th consecutive month when the wholesale price index (WPI) has declined.
The drop in the rate of inflation in April is primarily due to a fall in prices of basic metals, food, and manufactured products.
Wholesale price inflation declined from a peak of 15.88% in May 2022 to 4.95% in December 2022.
Wholesale inflation fell for the fifth straight month in October.
The decline in WPI inflation in September was aided by a sharp drop in prices of food items and manufactured products.
Wholesale inflation remains in the double digits for the 17th month in a row since April 2021.
Inflation for manufactured products, which constitutes 64.23% to the WPI basket, soared to 9.84% year-on-year in February compared with 9.42% in January.
Highest increase in wholesale inflation since May; core inflation at an all-time high of 11.9% in October.
It is the time of the year to start chasing dark clouds over the Arabian Sea. Normal rains will offset the demand recession induced by the pandemic and wash away a lot of the country’s woes.
According to a BofA Securities report, the Covid-19 shock could delay India touching the GDP of Japan by three years. In their latest estimates, it will now happen by 2031 if the economy grows at 9%.