Inflation is a rise in a hike in prices. According to some data which was released on Monday stated that the whole price index which is mainly be known as WPI is recorded at 5.77% in the month of June. In May WPI is recorded at 4.43%. By comparing the data from both the months’, anyone can quickly examine the rate at which wholesale inflation is rising.
As per the recent reports from the experts of inflation it was found that food inflation for the month of June is 1.80% which was recorded at1.60% in the month of May 2018. Food inflation is the rise in prices of food items.
Inflation in the vegetable is also recorded high over last few months. Vegetable inflation is at the peak and recorded at 8.12%. In the previous month, May it was just filed at 2.51%. Data for both this month shows the drastic change in the rate of vegetable inflation.
Inflation in fuel and power is also stood at a higher rate. The regular increase of the prices in the fuel becomes the cause the rise for almost every sector. Inflation in fuel was recorded at 16.18%. According to reports it was just filed at 11.22% in the month of May 2018.
Statement of Aditi Nayar
Aditi Nayar who is the Principal Economist at ICRA Ltd. said that the rise in the prices of crude oil is a primary factor behind the increase in wholesale inflation. Due to rising in fuel prices manufacturing of product become costly which led to widespread inflation records high over last four years.
The central bank of India corrected inflation by using their quantitative measures. As expected RBI may hike the repo rate for the correction of Inflation added by Ms. Nayar.
The rate of inflation for the manufactured products was recorded at 4.17 in June. Which is stood at 3.73% in May 2018?
Among food inflation sector, the potato was recorded at the highest. In June inflation rate for the potato was stood at 99.02%. Which was recorded at 81.25% in May? The rise in the prices of onion was also recorded a 5% hike as compared to May.