The Ministry of Commerce & Industry unveiled the wholesale price index (WPI) for the month of July on Tuesday, August 16. The annual rate of inflation-based WPI has softened to 13.93 percent in July, as against 15.18 percent in June.
According to the ministry, price increases for mineral oils, food items, crude oil and natural gas, basic metals, electricity, chemicals & chemical products, food products, etc. increased in July 2022 compared to the same month the year before. The WPI index's month-over-month decrease for July was -0.13% compared to June 2022, the ministry said.
Food products from the Primary Articles group and the Manufactured Products group make up the WPI food index, which fell from 178.4 in June to 174.4 in July. Based on the WPI Food Index, the inflation rate dropped from 12.41% in June to 9.41% in July.
The index for the main articles dropped from 182.4 in June to 177.5 in July, a 2.69 percent decrease. In comparison to June, mineral prices dropped by 0.96 percent in July. Comparing July to June, prices fell for food items (-2.56%), non-food items (-2.61%), crude oil and natural gas (-5.05%), and other items (-2.61%). Cereals, paddy, wheat, legumes, vegetables, potatoes, onions, fruits, milk, eggs, meat, and fish are only a few examples of food items.
LPG, petroleum, and HSD are included in the fuel and power index, which grew by 6.56 percent to 165.6 in July from 155.4 in June. When compared to June, the prices of electricity and mineral oils rose 6.38 percent and 7.95 percent, respectively.
In July, the manufactured goods index dropped from June's reading of 143.7 to 143.1, a decrease of 0.42 percent.
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