WPI inflation shoots up to 2-year high, at 3.55% in July

The Wholesale Price Index-based (WPI) inflation for the July month of fiscal year 2016-17 (FY17) rose up 3.55% as compared to minus 4.00% in the same month of the previous fiscal. This is the most rise in two-years. 

WPI inflation was 1.62% in the June month this year, said the Press Information of Bureau (PIB) statement citing the Ministry of Commerce and Industry data on Tuesday.

source: tradingeconomics.com

"Build up inflation rate in the financial year so far was 4.91% compared to a build up rate of 0.85% in the corresponding period of the previous year,"  the Ministry of Commerce and Industry said in a statement. 

The index for primary articles during the month surged by 9.38% as compared to minus 3.98% in the same period of previous fiscal, showed the data from the Ministry of Commerce and Industry. It was 5.50% in the June month. 

The food articles index in July month increased by 11.82% as against minus 1.20% in the corresponding period of last fiscal. It was 8.18% in the June month.