India’s WPI Inflation eases to 11.16% in July
WPI Inflation: India’s Wholesale Price Index in July 2021 eases to 11.16% YoY. In May 2021, the WPI recorded a high value. Now, but it finally falls below 12%. There are mainly two reasons behind the high inflation rate: rapid increase of crude oil prices and manufactured goods.
As compared to the last month’s result, the index reduced by around 12.07%. However, it is still high against the last year’s same period result. In July 2020, the Wholesale price index contracted to 0.25%.
Further, the CPI (Consumer Price Index) of India relived to 5.59% in July. At the same time, Manufactured Goods rose to 11.20% from 0.59% in July 2020. The WPI based food index decreased from 6.66% to 4.46%.
“INFLATION IS TAXATION WITHOUT LEGISLATION.”
Moreover, LPG, Petrol, and HSD have all seen a steep rose in inflation against being in the negative quadrant last year.
In Wholesale Price Index items, only Onions drives the index high to 72.01% from 25.56% in last year.
The crude oil and Natural gas index also raised its inflation index to 40.28% from 18.58 in July 2020.