India's WPI inflation declines further to -4.12% in June 2023

14 Jul '23

2 min read

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Insights

In June, India's annual inflation rate, based on the WPI, dropped to -4.12 per cent, primarily due to lower prices of mineral oils, food products, basic metals, crude petroleum, natural gas, and textiles.
The WPI decreased marginally from 149.6 in May to 149 in June.
Notably, the index for textiles, and wearing apparel reached 135.1 and 149.3 respectively.

The annual rate of inflation based on all India Wholesale Price Index (WPI) number is -4.12 per cent (provisional) for the month of June 2023 (over June 2022) against 3.48 per cent recorded in May 2023, according to the ministry of commerce and industry.

The month over month change in WPI index for the month of June 2023 stood at -0.40 per cent as compared to May 2023.

“The decline in the rate of inflation in June 2023 is primarily due to fall in prices of mineral oils, food products, basic metals, crude petroleum and natural gas and textiles,” the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT), under the ministry of commerce and industry, said.

The official WPI for all commodities (Base: 2011-12 = 100) for the month of June 2023 decreased slightly to 149 from previous month’s 149.6.

The index for manufactured products (weight 64.2 per cent) for June 2023 reached 140.0. The index for ‘Manufacture of Textiles’ sub-group was recorded at 135.1, while the index for ‘Manufacture of Wearing Apparel’ was at 149.3.

The index for primary articles (weight 22.62 per cent) reached 176.3 in June 2023, while that for fuel and power (weight 13.2 per cent) was 146.0.

ALCHEMPro News Desk (KD)

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