June WPI soars to 5.77%; marks a high of 4.5-years
India's wholesale inflation grew 5.77 percent in June, marking a four-and-half year high.
New Delhi: India's wholesale inflation grew 5.77 percent in June, marking a four-and-half year high.
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. Wholesale inflation rate, which is measured by Wholesale Price Index (WPI) shows that primary articles, which accounts for more than a fifth of the entire wholesale price index, grew 5.3 percent in June from 3.16 percent in May.
On the other hand, prices for vegetables grew 8.12 percent in June as compared with a growth of 2.51 percent in May. Prices of pulses have continued to slump for over a year now, with rate of decline relatively slowing at (-)20.23 percent in June, as compared with a de-growth of (-)21.13 percent in May.
Similarly, fuel and power inflation, which has a weightage of 13.15 percent in WPI, grew at 16.18 percent in June from 11.22 percent in May. Petrol prices are up 17.45 percent in June from 13.90 in May, while diesel prices grew 21.63 percent in June as compared to 17.34 percent in May.
Earlier last week, the government data showed that retail inflation grew 5 percent in June, a five-month high, from May's 4.87 percent on the back of rising fuel prices. (ANI)