New Delhi: India’s wholesale inflation eased to 15.18 percent in June 2022 from 15.88 percent in May, the data released by Commerce and Industry Ministry showed on Thursday.
The wholesale price index (WPI) based inflation was 12.07 percent in June 2021. The wholesale inflation has been double-digit for the last almost 15 months.
“The high rate of inflation in June 2022 is primarily due to a rise in prices of mineral oils, food articles, crude petroleum and natural gas, basic metals, chemicals, and chemical products, food products, etc. as compared to the corresponding month of the previous year,” an official statement said.
The WPI captures the average movement of wholesale prices of goods and is primarily used as a GDP deflator. It reckons only basic prices and does not include taxes, rebate/trade discounts, transport, and other charges.
The government data released earlier this week had shown a bit of softening in retail inflation too. The consumer price index (CPI) based retail inflation had come in at 7.01 percent in June 2022 as compared to 7.04 percent in the previous month.