WPI inflation contracts 0.58 per cent in July

New Delhi, Aug 14 (KNN) The Wholesale Price Index (WPI)-based inflation stood at 0.58 per cent for the month of July.

WPI inflation in June was at (-) 1.81 per cent, while for the month of May and April it was (-) 3.37 per cent and (-) 1.57 per cent respectively.

"The annual rate of inflation, based on monthly WPI (Wholesale Price Index), stood at (- 0.58 per cent) (provisional) for the month of July 2020 as compared to 1.17 per cent during the corresponding month of the previous year," the commerce and industry ministry said in a statement.

Inflation in food articles during July stood at 4.08 per cent, as against 3.05 per cent in June and 2.73 per cent in May while fuel and power rose sharply as well, to -9.84 per cent in July from -13.6 per cent in June and -23.08 per cent in May.

Manufactured products, however, witnessed inflation of 0.51 per cent in July, as against 0.08 per cent in June.