India’s July WPI inflation eases to 13.93% as food, fuel prices decline

India’s wholesale inflation in July eased sequentially to 13.93 per cent as vegetables, milk and fuel became cheaper, but remained in double digits for the 16th month.

Wholesale Price Index-based (WPI) inflation was 15.18 per cent last month and at a record high of 16.63 per cent in May. It was 11.57 per cent in July 2021.

WPI inflation rate for May 2022 was revised to a record high of 16.63 per cent year-on-year, from 15.88 per cent estimated earlier. “Inflation in July, 2022 is primarily contributed by rise 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 a government statement.