However, on a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry has risen exponentially over July 2020.

 

The inflation rate had stood at (-)0.25 per cent in July 2020.

 

"The annual rate of inflation is 11.16 per cent (Provisional) for the month of July, 2021 (over July, 2020) as compared to ((-)0.25 per cent) in July, 2020. The high rate of inflation in July 2021 is primarily due to low base effect and rise in prices of crude petroleum and natural gas; mineral oils; manufactured products like basic metals; food products; textiles; chemicals and chemical products etc. as compared the corresponding month of the previous year," the ministry said in its review of 'Index Numbers of Wholesale Price in India' for July.