India's wholesale inflation moderated to 12.07 per cent in June from a record high of 12.94 per cent in May amid a sustained rise in fuel and commodity prices, data released by the government on Wednesday showed.
Wholesale inflation came in at (-) 1.81 per cent in June 2020, due to the implementation of a stringent nationwide lockdown.
“The high rate of inflation in June 2021 is primarily due to low base effect and rise in prices of mineral oils viz. petrol, diesel (HSD), naphtha, ATF, furnace oil etc, and manufactured products like basic metal, food products, chemical products etc as compared to the corresponding month of the previous year,” an official statement said.
According to data released by the commerce and industry ministry, food prices fell to 3.1 per cent in June from 4.31 per cent in May. Fuel and power inflation stood at 31.44 per cent in June as compared to 37.61 per cent as petrol and diesel prices remained elevated. Price rise in manufacturing products that account for close to two-third of the index, remained almost flat at 10.88 per cent as compared to 10.83 per cent a month earlier.
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