India's Wholesale Price Inflation Contracts 4.12% in June
IIE Digital Desk : India's wholesale price inflation (WPI) contracted 4.12% in June 2023, from a year ago, according to data released by the Ministry of Commerce and Industry on July 14. This is the lowest WPI inflation in 15 months.
The decline in WPI inflation was driven by a fall in prices of food items, such as vegetables, fruits, and pulses. The prices of non-food items, such as crude oil, coal, and steel, also declined in June. The decline in WPI inflation is a positive sign for the Indian economy. It shows that the inflationary pressures on the economy are easing. This will help to boost economic growth.
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