The wholesale price index (WPI) in the country has been 11.6 percent in the month of July. This has been told in the data released by the Ministry of Commerce and Industry today. In comparison, the wholesale inflation rate increased by 12.07 per cent in the month of June. From this perspective, the wholesale inflation rate in July may have decreased slightly compared to June, but it is still very high. It is still almost double the retail inflation rate.
The ministry’s statement said that the inflation rate in July 2021 is due to increase in prices of crude oil and natural gas, mineral oil, manufactured products like basic metals, food products, clothing, chemicals and chemical products etc. According to the data, there has been zero percent change in the food items in the month of July. Earlier, the change in the month was 3.09 per cent.
Vegetable prices declined by (-) 8.73 per cent in July from (-) 0.78 per cent in June. The prices of pulses had increased by 8.34 per cent last month. While the inflation rate of fruits declined by (-)3.52 percent. The prices of eggs, meat and fish increased by 7.97 per cent in July.
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In the oil and energy category, the rate fell to 26.02 per cent in July, from 32.83 per cent a month ago. Petrol prices increased by 56.58 percent. HSD (High Speed Diesel) saw an increase of 52.02 per cent and LPG prices by 36.25 per cent.
The manufactured products segment grew 11.20 per cent last month. Vegetable oil saw a jump of 42.89 percent. According to the data released by the government last week, retail inflation (CPI) declined to 5.59 per cent, the lowest in three months.