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WPI inflation hits 16-month high: Surge driven by soaring food prices
Updated On: 16 July, 2024 08:59 AM IST | New Delhi | Agencies
Food and manufactured goods push June WPI inflation to 3.36 per cent
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A view of wholesale vegetables market in Navi Mumbai. File pic/PTI
Wholesale inflation in the country surged to a 16-month high of 3.36 per cent in June on account of rise in prices of food articles, especially vegetables and manufactured items. This was the fourth consecutive month when inflation witnessed an upward journey. The wholesale price index (WPI) based inflation was 2.61 per cent in May. It was (-) 4.18 per cent in June 2023.
Wholesale inflation had touched a high of 3.85 per cent in February 2023. “Positive rate of inflation in June, 2024 is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum and natural gas, mineral oils, other manufacturing etc,” Ministry of Commerce & Industry said in a statement on Monday.
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