India’s WPI inflation falls 0.58% in July

New Delhi: India’s wholesale price-based inflation (WPI) fell for the fourth straight month in July, official data showed on Friday.

India’s July WPI stood at (-) 0.58 percent although vegetables and other food items turned costlier.

“The annual rate of inflation, based on monthly WPI, stood at (-0.58%) (Provisional) for the month of July, 2020 (over July, 2019) as compared to (1.17%) in the corresponding period of the previous year,” an official release said.

WPI inflation in June was (-) 1.81 percent, while for the month of May and April it was (-) 3.37 percent and (-) 1.57 percent respectively.

Inflation in food articles was at a four-month high level of 4.08 percent in July, mainly due to sharp rise in vegetable prices. Inflation in vegetables stood at 8.20 percent, against (-) 9.21 percent in June.

Pulses saw inflation of 10.24 percent, while for potato it was 69.07 percent in July. Protein rich items like egg, meat and fish saw hardening of prices with inflation at 5.27 percent.

However, onion prices softened and inflation fell 25.56 percent, while in fruits it was (-) 3.03 percent.

Inflation in fuel and power basket fell 9.84 percent in July, compared to 13.60 percent drop in the previous month.

Manufactured products, however, witnessed inflation of 0.51 percent in July, against 0.08 percent in June.