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 13.93% in July. It was at 15.18% in June this year and at a record high of 15.88% in May. WPI-based inflation was 11.57%in July last year.
The WPI inflation continued its declining trend for the second month in July. But it remained in double digits for a 16th straight month. WPI rate touched double digits in April 2021.
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As per the data, inflation in food articles in July eased to 10.77% from 14.39% in June. The rate of price rise in vegetables declined to 18.25% in July from 56.75% in June. The rate of price rise in the fuel and power basket surged to 43.75% in July from 40.38% in June.
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 policy of Reserve Bank of India is made after reviewing the CPI.
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