Wholesale inflation came down to the lowest level in 8 years, the common man got a big relief
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what are the figures telling
According to government data, the inflation rate in food articles declined by 1.24 per cent in June, as against a negative growth of 1.59 per cent in May. Inflation in the fuel and power segment declined by 12.63 per cent in June as against a decline of 9.17 per cent in May. According to the ministry statement, the decline in WPI inflation was mainly due to lower prices of mineral oils, food products, basic metals, crude petroleum and natural gas and textiles.
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what happened cheap
According to the report, textiles, paper and paper products, chemical and chemical products, semi-finished steel, fabricated metal products have become cheaper as compared to the previous year. Wholesale inflation in manufactured products declined by 2.71 per cent during the period under review as against 2.97 per cent in May. The decline in WPI inflation in June was mainly due to lower prices of mineral oils, food products, basic metals, crude oil and natural gas and clothing, the ministry said in a release.
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