India's WPI inflation falls to 2.04% in July 2024

The month over month (MoM) change in WPI index for the month of July 2024 stood at 0.84 per cent as compared to June 2024.

“Positive rate of inflation in July 2024 is primarily due to increase in prices of food articles, manufacture of food products, mineral oils, crude petroleum and natural gas, other manufacturing etc,” the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT), under the ministry of commerce and industry, said.

The official WPI for all commodities (Base: 2011-12 = 100) for the month of July 2024 increased to 155.2 from the previous month’s 153.9.

The index for manufactured products (weight 64.23 per cent) for July 2024 dropped slightly to 141.7 from 141.9 in June 2024. The index for ‘Manufacture of Textiles’ sub-group increased slightly to 136.7 in July from 136.4 in June, while the index for ‘Manufacture of Wearing Apparel’ decreased slightly to 152.1 from 152.2 in June.

The index for primary articles (weight 22.62 per cent) increased to 197.6 in July 2024 from 191.6 in June 2024, while that for fuel and power (weight 13.15 per cent) increased to 147.9 from 147.7 in June 2024.

Fibre2Fashion News Desk (KD)