Wholesale price inflation eased marginally in June but remained in double digits for the third consecutive month, highlighting the price pressures in the economy against the backdrop of the Covid-19 pandemic.
Data released by the department for promotion of industry and internal trade showed inflation, as measured by the wholesale Price Index, eased to 12.1% in June, slower than the 12.9% in May. In the same period last year, it had posted a deflation of 1.8%.
The latest data comes close on the heels of the retail inflation numbers holding steady at 6.3% as price pressures across food, fuel and some services segments remained firm.
The WPI data showed that inflation in the food segments slowed to 3.1% in June, lower than the 4.3% in the previous month. Vegetable prices slowed for the seventh month in a row but onion prices shot up an annual 64% during June. The inflation in the fuel and power segment was at 32.8%, easing from 37.6% in May. Economists have said they expect the RBI to continue with its pause on interest rates.
No comments:
Post a Comment