New Delhi: The wholesale price-based inflation (WPI) has declined in the country. As per the data released by the Union government, the WPI is at 15.18%. It was at 15.88% in May. This was the three-decade high rate.
The WPI remained in double digits for a 15th straight month. WPI rate touched double digits in April 2021. The surge in the crude oil price and commodity price is the main cause of the hike in WPI-inflation rate. WPI Inflation in February was at 13.11%, while in March last year, it was 7.89%.
Several agencies had predicted that the WPI for June will be at 15.50%. It was at 12.07% in June 2021.
Wholesale Price Index (WPI) is a measure of the average change in the price of goods at a wholesale level or in the wholesale market. Consumer Price Index (CPI) is another price index that calculates price changes of goods and services that a consumer has to pay in the retail market. The monetary police of Reserve Bank of India is made after reviewing the CPI.