Even as pulses and onions remained costly, India’s annual inflation rate based on wholesale prices continued in the negative territory in June, falling further to (-)2.4 percent from (-)2.36 percent for the month before, official data showed on Tuesday.
The annual rate of inflation, as per the official wholesale price index, stood at 5.66 per cent in the corresponding month of the previous year, according to data released by the commerce and industry ministry.
Reflecting the dichotomy over retail and wholesale prices in the country, data released on Monday by the Central Statistics Office (CSO) showed that rise in food and fuel prices had propped the country’s consumer price index inflation to 5.40 per cent in June from 5.01 per cent in May.
The consumer price index data also showed that rural areas were relatively impacted more with an annual retail inflation rate of 6.07 per cent, against 4.55 per cent for urban areas. The food and beverage sub-index that has the highest weight rose by 5.48 per cent from 4.80 per cent in May.
The commerce ministry data showed that the wholesale inflation rate rose in June despite marginal increases in the all the three major sub-indices compared with May. The spikes were 1.4 per cent for primary articles, 0.6 per cent for fuels and 0.1 per cent for manufactured products.
Among articles of consumption by the masses, the annual inflation for pulses was whopping 33.67 per cent in June, followed by 18.54 per cent for onions, 7.47 per cent for fruits and 5.18 per cent for milk. But prices fell 52.40 per cent for potatoes and and 2.25 per cent for eggs, meat and fish.
The data also reflected the lowering of prices in the fuels sub-index during the month in review. The rates of inflation were (-)9.7 per cent for petrol, (-)11.86 per cent for high-speed diesel and (-)4.73 per cent for cooking gas.