India's Wholesale Price Index rises to 3.6 percent in June
India’s Wholesale Price inflation (WPI) for the month of June 2024 has accelerated to 3.6 per cent compared to 2.61 per cent in the previous month, as per the Indian government released data on Monday.
Month-over-Month Change in Major Groups of WPI
Primary Articles (Weight 22.62%): - The index for this major group increased by 2.08% to 191.6 (provisional) in June, 2024 from 187.7 (provisional) for the month of May, 2024. Prices of food articles (2.96%) and minerals (1.47%) increased in June, 2024 as compared to May, 2024.
Prices of non-food articles (-0.32%) and crude petroleum & natural gas (-0.57%) declined in June, 2024 as compared to May, 2024.
Fuel & Power (Weight 13.15%)
The index for this major group declined by 1.93% to 147.7 (provisional) in June, 2024 from 150.6 (provisional) for the month of May, 2024. Prices of electricity (-1.67%) and mineral oils (-2.38%) declined in June, 2024 as compared to May, 2024.
Manufactured Products (Weight 64.23%): - The index for this major group increased by 0.14% to 141.9 (provisional) in June, 2024 from 141.7 (provisional) for the month of May, 2024.
Out of the 22 NIC two-digit groups for manufactured products, 8 groups witnessed an increase in prices,10 groups witnessed a decrease in pricesand4groupswitnessed no change in prices.
Some of the important groups that showed month-over-month increase in prices are food products; chemicals & chemical products; textiles; rubber & plastics products; motor vehicles, trailers & semi-trailers, etc.
Some of the groups that witnessed a decrease in prices are basic metals; other non-metallic mineral products; fabricated metal products, except machinery & equipment; pharmaceuticals, medicinal chemical & botanical products; machinery & equipment, etc.in June, 2024 as compared to May, 2024.
WPI Food Index (Weight 24.38%): The Food Index consisting of 'food articles' from Primary Articles group and 'food product' from Manufactured Products group increased from 185.7 in May, 2024 to 190.3 in June, 2024. The annual rate of inflation (y-o-y) based on WPI Food Index increased from 7.40% in May, 2024 to 8.68% in June, 2024.
Final Index for the month of April, 2024 (Base Year: 2011-12=100): For the month of April, 2024 the final Wholesale Price Index and inflation rate for 'All Commodities' (Base: 2011-12=100) stood at 152.9 and 1.19% respectively.
The Annual rate of Inflation (Y-o-Y) based on WPI for different commodity groups in the last six months are at Annex II. WPI for different commodity groups in the last six months are at Annex III.
Response Rate: The WPI for June, 2024 has been compiled at a weighted response rate of 87.8 percent, while the final figure for April, 2024 is based on the weighted response rate of 95.8 percent. The provisional figures of WPI will undergo revision as per the final revision policy of WPI. This press release, item indices, and inflation numbers are available at our home page http://eaindustry.nic.in.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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