New Delhi: In a huge sigh of relief for the government and people, Wholesale Price Inflation (WPI) declined to 2.04 per cent in July 2024, as against 3.36 per cent in June.
The Department for promotion of industry and internal trade (DPIIT) in a post on X said “the annual rate of inflation based on WPI stood at 2.04 % in July 2024 as compared to 3.36 % in June, 2024.”
The government data mentioned that the annual rate of inflation for Primary Articles of WPI was recorded at 3.08 per cent in July 2024, as against 8.80 per cent in June 2024. The annual rate of inflation for Fuel & Power of WPI jumped to 1.72 per cent in July 2024; it was 1.03 per cent in June 2024.
The annual rate of inflation of the Manufactured Products group of WPI in July stood at 1.58 per cent, from 1.43 per cent in June 2024, the DPIIT informed.
Notably, the decline in July WPI was reported after a record fall in retail inflation for the month of July was announced. Retail inflation was down to a 5-year low of 3.54 per cent in July.
The Reserve Bank of India (RBI) has repeatedly raised concern over inflation and emphasised to keep it to the levels of 4 per cent. In its latest MPC meeting, RBI kept the benchmark interest rate or repo rate unchanged at 6.5 per cent.
Wholesale Price Inflation (WPI) declined to 2.04 per cent in July 2024, as against 3.36 per cent in June. Economy Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
