• Source:PTI
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Retail Inflation:  India's wholesale inflation rate increased by 3.36 percent in June for the fourth consecutive month due to rising food prices, especially vegetables and manufactured items. The wholesale price index (WPI)--based inflation stood at 2.61 percent in May. In June 2023, it was (-) 4.18 percent.

"Positive rate of inflation in June 2024 is primarily due to increasing in prices of food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, other manufacturing, etc," the Ministry of Commerce & Industry said in a statement on Monday.

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The inflation rate in vegetable prices increased to 38.76 percent during June, as compared to 32.42 percent in May. The inflation rate in onion prices was 93.35 percent, while the potato inflation rate was 66.37 percent during the month under review. Inflation in pulses rose by 21.64 percent in June.

In the fuel and power basket, inflation was 1.03 percent, marginally down from 1.35 percent in May. In manufactured products, inflation stood at 1.43 percent in June, higher than 0.78 percent in May.

The rise in the WPI for June matched the retail inflation data for the month. Data released last week showed that the retail inflation rate rose to a four-month high of 5.1 percent in June.
The Reserve Bank of India (RBI) factors in retail inflation while formulating monetary policy.

(With PTI's Input)

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