TIWN
New Delhi, July 14 (TIWN) Lower food prices aided in sequentially lowering India's annual rate of inflation based on wholesale prices in June.
However, the inflation rate alarmingly remained above the 12 per cent mark. Accordingly, WPI rose by 12.07 per cent in June from a rise of 12.94 per cent in May. The monthly rate of inflation, in June 2020 stood at (-) 1.81 per cent. On a sequential basis, the month over month change in WPI index for June 2021 as compared to May, was 0.75 per cent. "The high rate of inflation in June 2021 is primarily due to low base effect and rise in prices of mineral oils viz. petrol, diesel (HSD), naphtha, ATF, furnace oil etc, and manufactured products like basic metal, food products, chemical products etc as compared the corresponding month of the previous year," the Ministry of Commerce and Industry said in a statement on WPI.
- IMF expects India to rev up global growth as China falters, backs Modi government's economic policies
- realme set to shake up market: Launching fastest entry-level 5G smartphone 'C65' under Rs 10k
- India's industrial production accelerates to 5.7pc in Feb
- India records 17 pc jump to become 4th largest exporter of digital services: WTO report
- 300 pc rise in market cap to Rs 400 lakh crore in last 10 years driven by strong economic fundamentals