India’s wholesale inflation in June 2023 contracted to (-) 4.12 per cent in June on easing prices of meals, fuel and manufactured objects, in accordance to the newest official information launched on Friday.
According to the Ministry of Commerce and Industry, the decline in the speed of inflation in June 2023 is primarily due to a fall in prices of mineral oils, meals merchandise, primary metals, crude petroleum & pure gasoline and textiles.
The Wholesale Price Index (WPI) primarily based inflation had stood at (-) 3.48 per cent in May 2023. In June final 12 months, it was 16.23 per cent.
Inflation in meals articles declined to (-) 1.24 per cent in June towards (-) 1.59 per cent in May. Fuel and energy basket inflation eased to (-) 12.63 per cent in June from (-) 9.17 per cent in May.
In manufactured merchandise, the inflation fee was (-) 2.71 per cent in the month below assessment towards (-) 2.97 per cent in May.
The decline in the speed of inflation in June 2023 is primarily due to a fall in prices of mineral oils, meals merchandise, primary metals, crude petroleum & pure gasoline and textiles, the discharge mentioned.
(With PTI inputs)
