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WPI: Wholesale inflation rate increased to 3.36 percent in June, effect of rising prices of food items
WPI: Wholesale inflation continues to rise in the country due to the continuous increase in the prices of food and drink items.
The wholesale inflation rate of the country continued its upward momentum and reached 3.36 percent in June from 2.61 percent in May earlier. Government data pegged the same at 1.26 percent in April. Inflation at the wholesale level is just continuing to rise in the country due to a continuous price hike of food and drink items.
The Department of Commerce and Industry said in its statement, "On the basis of WPI, the rate of inflation in June is 3.36 percent. This month, due to the rise in prices of food items, production of food items, crude oil, petrol price, natural gas, and other things, it has increased the rate of inflation also."
Not only that, an increase has also been recorded in the Consumer Price Index during June, and it has reached its highest level of 5.08 percent in four months. The rise in prices of food items is believed to have impacted the CPI as well.
