Wholesale inflation rises in India
The annual rate of inflation based on all India Wholesale Price Index (WPI) stood at 3.36 percent in June, compared to 2.61 percent in May, according to the federal Ministry of Commerce and Industry on Monday.
“Positive rate of inflation in June 2024 is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum, and natural gas, mineral oils, other manufacturing, etc.,” the ministry said in a statement.
It added that the annual rate of inflation based on the WPI Food Index increased to 8.68 percent year on year in June 2024, and was compared to 7.40 percent in May 2024.
Food prices spiked by 8.68 percent year-on-year in June 2024, up from a 7.40 percent rise seen in May, with vegetable prices soaring by 38.76 percent compared to a 32.42 percent increase in the previous month, even as the biggest jump was witnessed in the case of onions from 58.05 percent in May to 93.35 percent June.
The WPI of fruits also rose from 5.81 percent in May to 10.14 percent in June, according to the monthly data released by the ministry.
Reference Link:- https://english.news.cn/asiapacific/20240715/2027aeecfac2404bb5722e504ef7193e/c.html
Zamir Ahmed Awan is the founder and Chair of the Global Silk Route Research Alliance, a think tank in Islamabad. He studied engineering at Shanghai University in the 1980s, and years later he went back to China as Pakistan's science counsellor in Beijing, from 2010 until 2016, working on science and higher education cooperation between the two countries.…
