India’s wholesale inflation in June 2023 contracted to (-) 4.12 per cent in June on easing prices of food, fuel and manufactured items, according to the latest official data released on Friday.
According to the Ministry of Commerce and Industry, the decline in the rate of inflation in June 2023 is primarily due to a fall in prices of mineral oils, food products, basic metals, crude petroleum & natural gas and textiles.
The Wholesale Price Index (WPI) based inflation had stood at (-) 3.48 per cent in May 2023. In June last year, it was 16.23 per cent.
Inflation in food articles declined to (-) 1.24 per cent in June against (-) 1.59 per cent in May. Fuel and power basket inflation eased to (-) 12.63 per cent in June from (-) 9.17 per cent in May.
In manufactured products, the inflation rate was (-) 2.71 per cent in the month under review against (-) 2.97 per cent in May.
The decline in the rate of inflation in June 2023 is primarily due to a fall in prices of mineral oils, food products, basic metals, crude petroleum & natural gas and textiles, the release said.
(With PTI inputs)