WPI inflation in June remains in negative territory, contracts 4.12%

The wholesale price-based inflation rate contracted once again in the month of June. WPI stood at (-) 4.12 per cent in June on the back of easing prices of food, fuel and manufactured items.

The wholesale price index based inflation in May was (-) 3.48 per cent. In June last year, it was 16.23 per cent.

Inflation in food articles declined to (-) 1.24 per cent in June against (-) 1.59 per cent in May, the Commerce and Industry Ministry said in a release on Friday.

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Fuel and power basket inflation eased to (-) 12.63 per cent in June from (-) 9.17 per cent in May.

In manufactured products, the inflation rate was (-) 2.71 per cent in the month under review against (-) 2.97 per cent in May.

The decline in the rate of inflation in June 2023 is primarily due to a fall in prices of mineral oils, food products, basic metals, crude petroleum & natural gas and textiles, the release said.

Meanwhile, India's retail inflation or CPI saw an increase for the month of June coming in at 4.81%.