In July, the second consecutive month, wholesale inflation fell to 11.16 percent, but it did not fall below double digits due to rising prices of onions, petrol, cooking gas, mineral oil, base metals, food items, clothing, chemicals and so on. . Coming. The ministry said the high rate of inflation in July 2021 was due to a lower source effect and crude oil and natural gas. There is an increase in the prices of manufactured products such as basic metals, food products, clothing, chemicals and chemical products.
Also Read: Petrol – diesel no longer cheap, Finance Minister said – We are not in a position to reduce excise duty
However, food prices fell for the third consecutive month in July. Food inflation remained at zero in July. It was 3.09 per cent in June. However, onions became expensive during this period. Onion inflation is at an all-time high of 72.01 per cent. Crude petroleum and natural gas inflation stood at 40.28 per cent in July and 36.34 per cent in June. Inflation in manufactured products stood at 11.20 per cent in July and 10.88 per cent in June. The Reserve Bank in its last monetary review put policy rates at record lows. When determining monetary review, the central bank takes into account retail inflation. According to data released last week, retail inflation fell to 5.59 per cent in July.
Got some relief from
Price decline in July (in%)
- Flour -2.35
- Vegetables -8.73
- Potatoes -36.35
- Fruits -3.52
They are raising concerns
Growth in July (%)
- Onion 72.01
- Oilseeds 40.75
- LPG 36.25
- Patrol 56.58
- The fat is 42.89
Oil prices rose 41 percent
Prices for petrol, cooking gas, mineral oil, base metals, foodstuffs, clothing, chemicals and so on have increased sharply in July 2021. During this period, the price of oilseeds has gone up by Rs. 40.75 is up. During the period, fuel and electricity prices rose by 26.02 per cent, manufactured goods by 11.20 per cent and food and beverages by 4.46 per cent. Pulses were dearer by 8.34 per cent, while vegetables became cheaper by 8.73 per cent. Potato prices also fell by 36.35 per cent.
The record was made in May
The wholesale inflation rate stood at a record high of 13.11% in May. This was a new record level. At the same time, even in June, wholesale inflation was 12.07%. It is important to note that the Ministry of Commerce and Industry releases its data on the wholesale price index on the 14th or next working day of each month. Due to the second wave of corona, wholesale inflation rates reached a record high in May. However, it still remains in the double digits.
