Wholesale inflation rises to 3.36 in June,highest in 16 months

NEW DELHI: The wholesale inflation in the country rose for the fourth consecutive month to 3.36 percent in June. The main reason for this was the increase in the prices of food items, especially vegetables and manufactured goods.

According to information,the inflation based on the Wholesale Price Index (WPI) was 2.61 percent in May while in June 2023, it was 4.18 percent below zero.

The Ministry of Commerce and Industry said in a statement on Monday, "The main reason for the increase in inflation in June 2024 was the increase in the prices of food items, manufacturing of food products, raw chemicals and natural gas, mineral oil, other manufacturing etc."

According to the data, inflation in food items increased by 10.87 percent in June, while it was 9.82 percent in May.

Vegetable inflation stood at 38.76 percent in June, as against 32.42 percent in May. Onion inflation stood at 93.35 percent, while potato inflation stood at 66.37 percent.

Pulses inflation stood at 21.64 percent in June. Inflation in the fuel and power sector stood at 1.03 percent, slightly lower than 1.35 percent in May. Inflation in manufactured products stood at 1.43 percent in June, higher than 0.78 percent in May.

The increase in the wholesale price index in June was in line with the retail inflation data for the month. According to data released last week, retail inflation rose to a four-month high of 5.1 percent in June.

The Reserve Bank of India (RBI) mainly takes retail inflation into account while formulating monetary policy.

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