India’s wholesale price inflation (WPI) rose to 3.36% in June 2024 from the same month last year, according to data released by the Commerce Ministry. On a monthly basis, WPI increased by 0.39% in June compared to May.
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The surge in inflation is mainly attributed to a 10.87% increase in food prices, driven by a 38.76% rise in vegetable prices and a 21.64% increase in pulse prices, due to the heat wave affecting crops. However, a decline in petrol and diesel prices limited the inflation in the fuel and power segment to 1.03%. Manufactured products also saw a 1.43% price increase during the month.
The food segment has a significant weight of 24.4% in the overall WPI index, contributing to the overall inflation rate.
