Representational Pic
Representational Pic

New Delhi: Lower prices of key motor fuels along with food articles softened annual rate of inflation, based on wholesale prices, to 1.08% in July from 2.02% in June. Similarly, the Wholesale Price Index (WPI), released by the Ministry of Commerce and Industry, showed a decelerating trend year-on-year as inflation had risen to 5.27% in July 2018.

"The annual rate of inflation, based on monthly WPI, stood at 1.08% (provisional) for July (over July 2018) as compared with 2.02% (provisional) for the previous month and 5.27% during the corresponding month of the previous year," the Ministry said in its review of "Index Numbers of Wholesale Price in India" for July.The build-up inflation rate in FY20 was 1.08% against 3.1% in the year-ago month, it said.

On a sequential basis, the expenses on primary articles, which constitute 22.62% of the WPI's total weightage, increased to 5.03% from 6.72%. The prices of food items increased at a slower rate of 6.15% from 6.98%. The cost of fuel and power, which commands 13.15% weightage, deflated to 3.64% from 2.20%.

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