New Delhi, July 14: Wholesale price inflation rose to 9.87 per cent in June, from 9.68 per cent in May, led by a sharp spike in prices of non-food and food products. The latest wholesale price index (WPI) inflation data is based on the 2022-23 base year. As per the data, food inflation rose to 5.49 per cent in June, from 3.60 per cent in May, as food prices rose during the month following a rainfall deficit due to the El Nino impact.
Non-food articles WPI inflation was also higher at 11.07 per cent, while in minerals it was 9.45 per cent in June. “Mineral Oils (containing Petroleum Products), Food Articles, Manufacture of Basic Metals, and Manufacture of Chemicals and Chemical Products have been major drivers of WPI inflation in June 2026,” the Commerce and Industry Ministry said. (PTI)
WPI inflation in fuel and power was down to 27.41 per cent in June, from a peak of 30.33 per cent in May. In manufactured products, inflation was unchanged at 7.48 per cent as in May.
Barclays, in a note, said global commodity prices and crude oil prices had taken a breather in June with the truce announcement between the US and Iran. This was reflected in lower fuel and power WPI inflation.
“But with the peace deal again coming under threat with the re-escalation of tensions in the Middle East, we are watchful of incoming WPI and PPI prints. In our view, these inflation prints are closer to peak, and we expect softening over the next few months,” Barclays said.
India Ratings and Research Director, Megha Arora, said the headline WPI inflation was driven by primary articles, which offset the ease in fuel inflation in June.
This is the second monthly reading for WPI and the output Producer Price Index (PPI) on the revised 2022-23 base. (PTI)
