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India’s wholesale inflation rate rises to 5.77% in June

Author: IANS/Monday, July 16, 2018/Categories: Economy

India’s wholesale inflation rate rises to 5.77% in June

New Delhi, July 16 - Rise in prices of manufactured products along with that of food articles and fuel types accelerated India's wholesale inflation rate at 5.77% compared to 4.43% in the previous month, official data showed on Monday.

According to the Ministry of Commerce and Industry, last month's WPI rate was also higher on year-on-year (YoY) basis. It had risen by 0.90% in June 2017.

"The annual rate of inflation, based on monthly WPI, stood at 5.77% (provisional) for June 2018 (over June 2017) as compared to 4.43% (provisional) for the previous month and 0.90% during the corresponding month the previous year," the Ministry said.

"Build up inflation rate in the financial year so far was 2.49% compared to a build up rate of (-) 0.44% in the corresponding period of the previous year."

On a sequential basis, the expenses during the month under consideration on primary articles, which constitute 22.62% of the WPI's total weightage, rose by 5.30%, from a marginal rise of 3.16% in May 2018.

Among primary articles, food articles, which has a weightage of 15.26% in the index, edged up last month by 1.80% from a acceleration of 1.60% reported for May.

The cost of fuel and power, which commands a 13.15% weightage in the index, increased at a fast pace of 16.18% during the month, from a rise of 11.22% in May.

Similarly, expenses on manufactured products increased by 4.17%, from 3.73% in the previous month.

On a YoY basis, onion prices in June soared higher by 18.25% and potatoes by 99.02%.

Similarly, the prices of both high-speed diesel and petrol climbed higher than in the previous month of last year, by 17.45% and 21.63%.

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