New Delhi: India’s wholesale price index (WPI)-based inflation eased to 13.93 percent in July 2022 from 15.18 percent in the previous month, data from the Commerce Ministry showed on Tuesday.
“Inflation in July 2022 is primarily contributed by rising in prices of mineral oils, food articles, crude petroleum & natural gas, basic metals, electricity, chemicals & chemical products, food products, etc. as compared to the corresponding month of the previous year,” said the official release.
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.
Last week, data released by the Ministry of Statistics & Programme Implementation (MoSPI) showed retail inflation had dipped to a five-month low of 6.71% in July providing much-needed respite to policy-makers who have been concerned about a spike in prices, especially in food and fuel.