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Wholesale inflation in manufacturing sector accelerated to 4.17% in June

Updated: Jul 16, 2018 09:37:23am
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Wholesale inflation in manufacturing sector accelerated to 4.17% in June

New Delhi, July 16 (KNN) The annual rate of inflation, based on monthly Wholesale Price Index, stood at 5.77% for the month of June, 2018.While last year in the month of May and June, it stood at 4.43 per cent and 0.90 per cent respectively.

The wholesale inflation in the manufacturing sector accelerated in June to 4.17% from 3.73% in May.

In this sector major increase in wholesale inflation has been seen in the manufacture of basic metals as it has accelerated to 17.34% in June from 15.79% in May due to higher price of MS pencil ingots and alloy steel castings, copper metal/copper rings, stainless steel tubes, MS bright bars, sponge iron and etc.

While inflation in the primary articles component of the Index accelerated to 5.3% in June from 3.16% in May, this was not due to food price inflation, which accelerated only marginally to 1.8% from 1.6% over the same period.

With 13.15% weight age in WPI, inflation in fuel and power grew at 16.18% in June from 11.22 per cent in May.

Petrol prices are up 17.45 percent in June from 13.90 in May, while diesel prices grew 21.63 percent in June as compared to 17.34 percent in May.

The rate of inflation for vegetables stood at 8.12% in the month of June while in that of may it was around 2.51%.

Because of increase in fuel, petrol and vegetable prices and many more inflation based on whole sale prices shot up.

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