The July wholesale price inflation (WPI) came in at 5.19 percent, marginally higher than CNBC-TV18 poll of 5.16 percent. However, month-on-month food article inflation fell to 7.4o percent versus 8.14 percent while manufactured inflation inched up to 3.67 percent against 3.61 percent in previous month.
The News International Team
The July wholesale price inflation (WPI) came in at 5.19 percent (provisional), marginally higher than CNBC-TV18 poll of 5.16 percent. The 2013 July wholesale price inflation stood higher at 5.85 percent. Alongside, the government has revised May inflation numbers higher at 6.18 percent, marking it the third revision of prices in recent months.
However, July core inflation declined to 3.32 percent against 3.9 percent in the previous month.
The movement of the index for the various commodity groups is summarized below
Primary Articles (Weight 20.12 percent): This index rose by 2.7 percent due to a spike in certain food articles like fruits & vegetables, wheat and poultry & meat products. However, Primary Articles inflation saw a slight decline to 6.78 percent versus 6.84 percent (MoM). The non-food articles index rose marginally by 0.8 percent.
Food Article Index: This index rose to 3.56 percent in July whereas food articles inflation grew to 8.43 percent Vs 8.14 percent (MoM).
Fuel & Power (Weight 14.91 percent): The index for this major group rose by 1.1 percent since June due to higher petrol, high speed diesel and aviation turbine fuel prices. But fuel and power group inflation declined to 7.40 percent from 9.04 percent in June.
Manufactured Products (Weight 64.97 percent): The index for this group rose by 0.32 percent (MoM) while manufactured products inflation rose to 3.67 percent versus 3.61 percent (MoM).