India’s inflation based on wholesale price index (WPI) deflated for the fourth straight month in July at (-) 1.36% as against (-) 4.12% recorded in June, 2023, due to fall in the prices of Minerals, Mineral oils, and Electricity.
The Component wise, primary articles index, having weight of 22.62%, increased 8.05% to 190.5 (provisional) in July 2023 from 176.3 (provisional) for the month of June 2023. Prices of Food Articles, Crude Petroleum & Natural Gas and Non-food Articles increased in July 2023 as compared to June 2023. However, prices of Minerals declined in July 2023 as compared to June 2023.
Fuel & Power index, having weight of 13.15%, declined 0.48% to 145.3 (provisional) in July 2023 from 146.0 (provisional) for the month of June 2023. Prices of Coal increased in July 2023 as compared to June 2023, while prices of Electricity and Mineral Oils declined in July 2023 as compared to June 2023.
Besides, Manufactured Products constituting the major portion of the index with weight of 64.23%, declined by 0.29% to 139.6 (provisional) in July 2023 from 140.0 (provisional) for the month of June 2023. Meanwhile, for the month of May, 2023 the final Wholesale Price Index and inflation rate for 'All Commodities' (Base: 2011-12=100) stood at 149.4 and (-) 3.61% respectively.
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