Wholesale inflation in July dips to 1.08 pc from 2.02 pc

India's annual rate of inflation, based on monthly wholesale price index (WPI), has dipped to 1.08 per cent (provisional) for July 2019 (over July 2018) as compared to 2.02 per cent (provisional) for the previous month and 5.27 per cent during the corresponding month of the previous year.

Build up inflation rate in the financial year so far was 1.08 per cent as compared to a build-up rate of 3.1 per cent in the corresponding period of the previous year, said the Ministry of Commerce and Industry in a statement on Wednesday.

The rate of inflation based on WPI Food Index consisting of 'Food Articles' from Primary Articles group and 'Food Products' from Manufactured Products group decreased from 5.04 per cent in June-2019 to 4.54 per cent in July -2019.

The official WPI for 'all commodities' (Base: 2011-12=100) for July declined by 0.2 per cent to 121.2 (provisional) from 121.5 (provisional) for the previous month. The index for this major group rose by 0.5 pc to 142.1 (provisional) from 141.4 (provisional) for the previous month.

The index for 'food articles' group rose by 1.3 per cent to 153.7 (provisional) from 151.7 (provisional) for the previous month due to higher price of fruits and vegetables (5 pc), egg, maize and jowar (4 pc each), pork (3 pc), beef and buffalo meat, bajra, wheat and condiments and spices (2 pc each) and barley, moong.

The index for 'non-food articles' group rose by 0.1 pc to 128.8 (provisional) from 128.7 (provisional) for the previous month due to higher price of groundnut seed (5 pc), gingelly seed (sesamum) and cottonseed (3 pc each), hides (raw), skins (raw), floriculture (2 pc each) and fodder, raw rubber and castor seed (1 pc each).

The index for 'minerals' group declined by 2.9 per cent to 153.4 (provisional) from 158 (provisional) for the previous month due to lower price of copper concentrate (6 pc), iron ore and chromite (2 pc each) and lead concentrate and manganese ore (1 pc each). However, the price of bauxite (3 pc) and limestone (1 pc) moved up.

The index for 'crude petroleum and natural gas' group declined by 6.1 pc to 86.9 (provisional) from 92.5 (provisional) for the previous month due to lower price of crude petroleum (8 pc) and natural gas (1 pc).

The index for this major group declined by 1.5 pc to 100.6 (provisional) from 102.1 (provisional) for the previous month.

The index for 'mineral oils' group declined by 3.1 pc to 91.4 (provisional) from 94.3 (provisional) for the previous month due to lower price of LPG (15 pc), ATF (7 pc), petroleum coke (4 pc), kerosene and furnace oil (2 pc each) and petrol (1 pc). However, the price of bitumen (2 pc) moved up.

The index for 'manufacture of food products' group rose by 0.4 per cent to 130.9 (provisional) from 130.4 (provisional) for the previous month due to higher price of molasses (271 pc), manufacture of processed ready to eat food (4 pc), gur, rice bran oil, sooji (rawa ) and powder milk (2 pc each) and manufacture of prepared animal feeds, instant coffee, cottonseed oil, spices (including mixed spices).