Due to high prices of vegetables,fuel in June WPI inflation was 5.77%
Due to high prices of vegetables,fuel in June WPI inflation was 5.77%
Wholesale prices rose to 5.77% in June due to rise in prices of vegetables & fuel.WPI was 4.43% & 0.90% in May & Jun'2017.Inflation in food articles was 1.80% in June,as against 1.60% in May.From 2.51% in previous month,inflation rose to 8.12% in June,due to inflation in 'Power & fuel' rose to 16.18% in June from 11.22% in May,due to rise in global crude oil price. As against 81.93% in May, potato inflation was 99.02% , from price rise of onion was 13.2% in May and in June its price was 18.25%, in pulses it was deflation at 20.23% in June.
Wholesale prices rose to 5.77% in June due to rise in prices of vegetables and fuel. Wholesale Price Index (WPI) was 4.43% and 0.90% in May and June last year. Inflation in food articles was 1.80% in Jun',2018, as against 1.60% in May. From 2.51% in the previous month, inflation rose to 8.12% in June, due to inflation in 'Power and fuel' rose to 16.18% in June as against 11.22% in May, due to rise in global prices of crude oil.
As against 81.93% in May, potato inflation was 99.02% , from price rise of onion was 13.2% in May and in June its price was 18.25%, in pulses it was deflation at 20.23% in June.
From estimated (provisional) of 3.18%, WPI inflation for April was revised to 3.62%. Retail inflation was at 5-month high of 5% in June on costlier fuel. To formulate monetary policy RBI considers data of retail inflation. RBI revised its retail inflation forecast for October to March to 4.7% from 4.4%.
The Reserve Bank last month hiked interest rate by 0.25%, for the first time in more than four years, due to rising inflation influenced by rise in global crude oil prices and hike in domestic price. The price of crude rose from $66 to $74, in April to June.
Ref. : https://www.business-standard.com/article/economy-policy/june-wholesale-inflation-shoots-up-to-5-77-vs-4-43-in-may-118071600310_1.html --- Dated: Jul'16,2018
