WPI inflation hits 16-month high: Surge driven by soaring food prices

A view of wholesale vegetables market in Navi Mumbai. File pic/PTI

Wholesale inflation in the country surged to a 16-month high of 3.36 per cent in June on account of rise in prices of food articles, especially vegetables and manufactured items. This was the fourth consecutive month when inflation witnessed an upward journey. The wholesale price index (WPI) based inflation was 2.61 per cent in May. It was (-) 4.18 per cent in June 2023.

Wholesale inflation had touched a high of 3.85 per cent in February 2023. "Positive rate of inflation in June, 2024 is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum and natural gas, mineral oils, other manufacturing etc," Ministry of Commerce & Industry said in a statement on Monday.

As per the data, inflation in food articles rose 10.87 per cent in June, as against 9.82 per cent in May. Inflation in vegetables was 38.76 per cent during June, up from 32.42 per cent in May. Onion inflation was at 93.35 per cent, while potato was 66.37 per cent in the month under review. Pulses inflation rose 21.64 per cent in June.

Inflation in vegetables

June 2024: 38.76 per cent
May 2024: 32.42 per cent

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