India’s wholesale price index (WPI)-based inflation for the month of June 2024 accelerated to a 16-month high of 3.36 per cent.
- The acceleration in the WPI was primarily due to increase in prices of food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, other manufacturing etc.
- The the provisional data of WPI was released by the Ministry of Commerce & Industry.
- In May 2024, WPI inflation was at 2.61 percent, driven by costlier food articles.
- According to the Ministry of Commerce & Industry, positive rate of inflation in June 2024 is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, other manufacturing etc.
- When prices of goods and services are on average rising, inflation is positive. Note that this does not mean that all prices are rising, or that they are all rising at the same rate.
