Inflation based on the Wholesale Price Index (WPI) in the country stood at 13.93% (provisional) in July. It shows a slight decline in comparison to June 2022. In June, there was a jump of 15.18% percent in the wholesale inflation rate as compared to the previous year.
This rate of wholesale inflation in July was mainly due to relief in prices of mineral oil, food articles, crude petroleum and natural gas, basic metals, energy, chemicals, and allied products. This information was given by the government by releasing the figures on Tuesday.
The wholesale inflation rate was the lowest in July during the last five months
Let us inform you that in May, the wholesale inflation rate had increased to the highest level of the last three decades at 16.63%. In July 2021, this rate stood at 11.57%. Let us tell you that the wholesale inflation rate has remained above 10% for 16 consecutive months. However, the lowest rate of wholesale inflation was recorded in July 2022 during the last five months.
Also Read: Inflation in India: Inflation hit, food prices increase drastically in one year
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