India’s annual wholesale inflation shoots up to 1.62%

New Delhi, July 14 (IANS) Ballooning food prices pushed up India’s annual wholesale inflation to a 20-month high of 1.62 per cent for June from 0.79 per cent in May, according to official data released on Thursday.

This kept inflation in the positive domain for the third month after 17 months in the negative.

The annual inflation for potatoes, as per data on official wholesale price index (WPI) released by the Commerce and Industry Ministry, was as much as 64.48 per cent, while for pulses it was 26.61 per cent. Vegetable prices were 16.91 per cent higher and sugar dearer by 26.09 per cent.

Just two days ago, official data had showed that high food prices have pushed up India’s annual retail inflation to 5.77 per cent in June. The annual retail food inflation moved up to 7.79 per cent, against 7.47 per cent in May.

Significantly, data released on Thursday showed that the final wholesale price index for the month of April was revised upward to suggest a higher annual inflation rate of 0.79 per cent against 0.34 per cent as reported earlier.

Among other items, the wholesale prices of petrol have declined 8.74 per cent in the past year, while that for diesel is up 1.13 per cent.

Data showed that there has also been a sharp seasonal build-up since the start of this fiscal. As a result, potato prices were up 54.38 per cent in June in a matter of three months while that of veggies in general were up 39.97 per cent. Pulses in this period were 15.50 percent costlier.



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