Business

Wholesale Deflation At 1.81% In June As Prices Fall For Third Month

Wholesale Deflation At 1.81% In June As Prices Fall For Third Month

Wholesale prices deflated by 1.81 per cent in June

Wholesale prices in the country witnessed a deflation of 1.81 per cent in June, government data showed on Tuesday. This is now the third consecutive month where wholesale inflation numbers have come in the negative territory, as in May the figure stood at -3.21 per cent. In June last year, wholesale inflation had come in at 2.02 per cent. According to government data, inflation in food articles during June stood at 2.04 per cent, as against 1.13 per cent in May. In fuel and power basket, deflation stood at 13.60 per cent in June, against 19.83 per cent in the previous month. Manufactured products, however, witnessed inflation of 0.08 per cent in June. In May, deflation was 0.42 per cent.

The government also released the final print numbers for the month of April, as earlier it had only released truncated numbers due to lack of data. April wholesale inflation stood at 1.57 per cent, according to government data.

Meanwhile, on Monday the retail inflation for the month of June came at a higher than expected 6.09 per cent. Experts said that the inflation numbers beat forecasts due to strains in the supply chain due to lockdown and increase in prices of commodities like fuel.