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WPI inflation stays at 13.93% in July

16 Aug 2022 2:30 pm
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Mumbai, August 16 (Commoditiescontrol) Wholesale inflation stayed at 13.93 per cent in July, data released by the Ministry of Commerce & Industry showed.

The WPI had rose to 15.18 per cent during the month of June, while the WPI for May was revised to 16.63 per cent from 15.88 per cent, the data showed. The WPI in July 2021 was at 11.57 per cent.

The key reason for the inflation level is rising food, fuel, and vegetable prices. Wholesale inflation level has softened a bit if compared month on month, but it has remained in double digits for 15 straight months. Higher crude oil prices and input costs still weigh on the producers and pass-through has resulted in pushing the retail inflation higher. This move also implies that manufacturers are recovering their pricing power.


The global economy is recovering as we witness an increase in demand for metals, oils, crude and fertilizers. Moving forward, as the crude prices soften in the summer season and supply issues getting resolved will help ease WPI inflation in the next few months.


       
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