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Wholesale inflation falls to 8-year low
July 14, 2023
The deflation in the wholesale price continued for the third month in a row in June, with WPI contracting to a nearly eight-year low at (-) 4.12 per cent on account falling prices of food products, fuel and basic metals, according to official data released on Friday.
The Wholesale Price Index based inflation stood at (-) 3.48 per cent in May and at 16.23 per cent in June 2022. The lowest WPI was recorded at (-) 4.76 per cent in October 2015. The decline in WPI is in contrast with June retail inflation which inched up to 4.8 per cent in June from 4.3 per cent in May.