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India's wholesale inflation hits 8-year low in June
The Business Guardian
|July 15, 2023
In June, the Wholesale Price Index-based whole sale inflation in India remained in negative territory for the third consecutive month, reaching a new multi-year low.
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Wholesale inflation in India, as measured by the Wholesale Price Index (WPI), continued its negative trend for the third consecutive month in June, reaching a fresh multi-year low. Official data released by the Ministry of Commerce and Industry revealed that June’s wholesale inflation stood at (-) 4.12 percent, compared to (-) 3.48 percent in May and (-) 0.79 percent in April.
The decline in wholesale inflation can be attributed to various factors, including a decrease in prices of mineral oils, certain food products, basic metals, crude petroleum, natural gas, and textiles. This decline has resulted in the overall deflationary trend observed in wholesale prices.
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