The Business Bytes
TBB BUREAU
NEW DELHI, JULY 14, 2022
The wholesale price-based inflation eased to a three-month low of 15.18 per cent in June 2022 (as against 12.07 per cent in June 2021) on a sharp decline in the prices of minerals, but food articles continued to remain costly. In May 2022, it touched a record high of 15.88 per cent.
The Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group increased from 176.1 in May, 2022 to 178.4 in June, 2022. The rate of inflation based on WPI Food Index increased from 10.89 per cent in May, 2022 to 12.41 per cent in June, 2022.
Inflation in food articles in June was 14.39 per cent, as prices of vegetables, fruits and potato witnessed a sharp spike over the year-ago period.
The rate of price rise in vegetables was 56.75 per cent, while in potato and fruits, it was 39.38 and 20.33 per cent, respectively.
The WPI inflation in minerals dropped sharply to 8.55 per cent in June from 33.94 per cent in May.
In manufactured products and oil seeds, it was 9.19 per cent and 2.74 per cent, respectively. Inflation in crude petroleum and natural gas was 77.29 per cent in June.
