WPI inflation falls 0.58% in July, food prices spike

August 14, 2020 17:41

The wholesale price-based inflation stood at (-)0.58 pc in July, remaining in the negative zone for the fourth straight month even as vegetables and other food items turned costlier. WPI inflation in June was (-) 1.81 per cent, while for the month of May and April it was (-) 3.37 per cent and (-) 1.57 per cent respectively.

"The annual rate of inflation, based on monthly WPI (Wholesale Price Index), stood at (- 0.58 per cent) (provisional) for the month of July, 2020 as compared to 1.17 per cent during the corresponding month of the previous year," the commerce and industry ministry said in a statement. Inflation in food articles was at a four-month high level of 4.08 per cent in July, mainly due to sharp rise in vegetable prices.

Inflation in vegetables stood at 8.20 per cent, against (-) 9.21 per cent in June. Pulses saw inflation of 10.24 per cent, while for potato it was 69.07 per cent in July. Protein rich items like egg, meat and fish saw hardening of prices with inflation at 5.27 per cent.

However, onion prices softened and inflation fell 25.56 per cent, while in fruits it was (-) 3.03 per cent. Inflation in fuel and power basket fell 9.84 per cent in July, compared to 13.60 per cent drop in the previous month.

Image: KBK Graphics

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