The Wholesale Price Index (WPI) in India for June 2024, based on the 2011-12 base year

In June 2024, India’s Wholesale Price Index (WPI) showed a provisional annual inflation rate of 3.36% compared to June 2023, driven by increased prices in food articles, manufactured food products, crude petroleum & natural gas, mineral oils, and other manufacturing sectors. The overall WPI for all commodities rose to 153.9 (base year 2011-12=100), marking a month-on-month increase of 0.39% from May 2024.

Primary articles saw a significant rise, with the index climbing to 191.6 due to higher prices in food articles and minerals. Meanwhile, the fuel & power group declined by 1.93%, mainly due to lower prices in electricity and mineral oils. Manufactured products also saw a slight increase to 141.9, driven by rises in food products, chemicals, textiles, rubber & plastics products, and motor vehicles. The food index registered an annual inflation rate of 8.68%, up from 7.40% in May 2024, reflecting higher prices in various food categories.

Overall WPI and Inflation

• WPI for June 2024: 153.9
• Annual inflation rate: 3.36% (June 2024 over June 2023)
• Month-over-month change: 0.39% (June 2024 over May 2024)

Breakdown by Major Groups

Primary Articles (Weight: 22.62%)

• Index: 191.6
• Annual Inflation: 8.80%
• Month-over-month change: 2.08%
• Significant increases in food articles (2.96%) and minerals (1.47%).
• Decline in non-food articles (-0.32%) and crude petroleum & natural gas (-0.57%).

Fuel & Power (Weight: 13.15%)

• Index: 147.7
• Annual Inflation: 1.03%
• Month-over-month change: -1.93%
• Declines in electricity (-1.67%) and mineral oils (-2.38%).

Manufactured Products (Weight: 64.23%)

• Index: 141.9
• Annual Inflation: 1.43%
• Month-over-month change: 0.14%
• Price increases in food products, chemicals, textiles, and motor vehicles.
• Price decreases in basic metals, fabricated metal products, and pharmaceuticals.

Food Index (Weight: 24.38%)

• Index: 190.3
• Annual Inflation: 8.68%
• Month-over-month change: 2.48%

Detailed Commodity Analysis

• Cereals: Index at 201.6, with an annual inflation of 9.27%.
• Pulses: Index at 229.3, with an annual inflation of 21.64%.
• Vegetables: Index at 282.8, with an annual inflation of 38.76%.
• Fruits: Index at 200.9, with an annual inflation of 10.14%.
• Milk: Index at 184.3, with an annual inflation of 3.37%.
• Eggs, Meat & Fish: Index at 174.5, with an annual inflation of -3.06%.
• Crude Petroleum: Index at 133.2, with an annual inflation of 14.04%.

Fuel & Power Components

• LPG: Index at 115.7, with an annual inflation of 1.49%.
• Petrol: Index at 153.8, with an annual inflation of -1.35%.
• HSD: Index at 166.0, with an annual inflation of -1.78%.

Manufactured Products

• Food Products: Index at 165.6, with an annual inflation of 4.28%.
• Chemicals and Chemical Products: Index at 136.4, with an annual inflation of -1.09%.
• Basic Metals: Index at 143.1, with an annual inflation of 1.06%.

Notable Points

Positive Inflation Drivers: Increases in prices of food articles, manufactured food products, crude petroleum & natural gas, and other manufacturing sectors.

Response Rate: The WPI for June 2024 was compiled with a weighted response rate of 87.8%, while the final figure for April 2024 had a response rate of 95.8%.

Next Release

The WPI for July 2024 will be released on August 14, 2024.