India Wholesale Prices Fall 0.13% In June

(RTTNews) - India's wholesale prices decreased for the first time in nineteen months in June, provisional data from the Ministry of Commerce and Industry revealed on Monday.

The wholesale price index, or WPI, dropped 0.13 percent year-over-year in June, reversing a 0.39 percent increase in May. Meanwhile, economists had expected inflation to rise to 0.52 percent. Moreover, this was the first decline since November 2023.

Food prices showed a renewed decline of 0.26 percent annually in June. Prices for primary articles fell 3.38 percent annually in June, and costs for fuel and power also showed a further decline of 2.65 percent.

Price increases softened in manufactured products from 2.04 percent to 1.97 percent.

On a monthly basis, wholesale prices dropped 0.19 percent from May, when they decreased by 0.06 percent.