New Delhi: Wholesale price-based inflation softened for the second consecutive month to 11.16 percent in July on cheaper food food, although the price of manufacturing goods and crude oil hardened.
However, WPI inflation remains in two digits for the third consecutive month in July, mainly due to a low base last year.
WPI inflation is (-) 0.25 percent, in July 2020.
“The high level of inflation in July 2021 is mainly due to the low basic effects and rising prices of crude oil and natural gas; mineral oil; basic products such as basic metals; Products Food; Textiles; Chemicals and chemical products etc.
compared to the appropriate month in the previous year, “Trade and the Ministry of Industry in a statement.
Inflation in food articles subsided for the third consecutive month, and was in ‘zero’ percent in July, down from 3.09 percent in June, even because of the price of onion surge.
Inflation in onions as high as 72.01 percent.
Inflation in crude oil and natural gas was 40.28 percent in July, against 36.34 percent in June.
In manufacturing products, inflation reached 11.20 percent in July, against 10.88 percent in the previous month.
RBI, which mainly takes into account retail inflation, in monetary policy last week kept interest rates unchanged at the lowest record.
It projects CPI or retail inflation by 5.7 percent over 2021-22, up from the previous projection of 5.1 percent.
The data released last week showed retail inflation fell to 5.59 percent in July, mainly due to softening food prices.
WPI inflation makes it easy for 11.16% in July; Food, crude oil prices softened
