New Delhi/UNI: India's wholesale price index (WPI)-based inflation eased to 13.93 percent in July this year from 15.18 percent in the previous month, data from the Commerce Ministry showed on Tuesday.
The official release read, "Inflation in July, 2022 is primarily contributed by rise in prices of mineral oils, food articles, crude petroleum & natural gas, basic metals, electricity, chemicals & chemical products, food products etc. as compared to the corresponding month of the previous year."
The WPI captures the average movement of wholesale prices of goods and is primarily used as Gross Domestic Product (GDP) deflator.
It reckons only basic prices and does not include taxes, rebate/trade discounts, transport and other charges.
Last week, data released by the Ministry of Statistics & Programme Implementation (MoSPI) showed that retail inflation had dipped to a five-month low of 6.71 percent in July, providing the much-needed respite to policy-makers who have been concerned about a spike in prices especially in food and fuel.