Wholesale Price Index Inflation Falls To 8-Year Low Of -4.12%

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New Delhi: India's wholesale price index (WPI) based inflation further fell to stand at -4.12 percent in June, from -3.48 percent in May, according to the commerce ministry data released on Friday.

The decline in WPI was due to a fall in prices of mineral oils, food products, basic metals, crude petroleum & natural gas, and textiles. This is the third month in a row when wholesale inflation has stayed in the deflationary zone.

At -4.12 percent, the WPI inflation has hit its lowest level since October 2015, when it had fallen to -4.76 percent. In April 2023, it stood at (-)0.92 percent.

In March 2023, WPI inflation had fallen to a 29-month low of 1.34 percent owing to a steep fall in indexes of primary articles, manufactured products, fuel and power as well as food.

Meanwhile, according to the commerce ministry data, the all-commodities index of the WPI fell by 0.4 percent month-on-month in June, indicating a weakening of price momentum.