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The wholesale price inflation of food items is established at 1.80% in June against 1.60% in May
Wholesale price inflation based on the Wholesale Price Index (IPT) for the month of June stands at 5.77% compared to 4.43% in May and 0.90 percent in the corresponding month of the year. previous, according to official data released Monday.
The inflation of food items settled at 1.80% in June 2018, against 1.60% the previous month. Inflation in vegetables climbed to 8.12 percent in June, from 2.51 percent the previous month. Inflation in the fuel and energy basket also increased sharply, rising from 11.22% in May to 16.18% in June as domestic fuel prices rose during the month, in line with the rise world crude oil prices
. Crude oil prices, rising cotton prices and electricity tariffs, the tightening of manufactured goods inflation and an unfavorable base effect have led to a sharp rise in inflation WPI in June 2018. "Nayar, Senior Economist, ICRA Ltd.
This has reinforced expectations of probable rate hikes from the Reserve Bank of India (RBI)." Higher than expected rise in inflation of WPI in June 2018 reinforces our forecasts of a likely rise in repo rates at the next meeting of the MPC in August 2018, "said Ms. Nayar.
The inflation of manufactured goods is expected to increase. rose to 4.17% in June from 3.73% in May
The potato's inflation reached 99.02%, compared to 81.93% in May. onion was 18.25% in June against 13.20% the previous month.
The inflation rate based on the WPI food index composed of ar Commodity items and manufactured food items The product group rose from 1.56% in June to 1.12% in May. The "Crude Oil and Natural Gas" group index increased 8.1% to 95.2 (provisional) from 88.1 (provisional) the previous month due to higher crude oil prices (11%) and natural gas (1%) The "Food items" group index rose 1.1% to 141.7 (provisional) compared to 140.1 (provisional) for the month of June because of the higher price of eggs (5%), fruits and vegetables (4%). cent), corn and marine fish (3% each), jowar (2%) and barley, bajra, beef and buffalo, wheat, coffee, condiments and spices, milk and poultry (1% each).
However, prices of betel leaves (14 percent), urad, arhar and gram (2 percent each) and ragi, masur and moong (1 percent each) have dropped.
The month of April was revised to 3.62% against the preliminary estimate of 3.18% published earlier.
Last week, retail inflation in June reached 5%, up from 4.87% in May. (With agency entries)
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