New Delhi: Wholesale inflation has also come down due to softening of prices of food items, especially vegetables and manufacturing products. WPI stood at 2.07 percent in July. It had reached 3.36 percent in June which was the highest level in 16 months. 

The Department for Promotion of Industry and Internal Trade (DPIIT) said in its ex post that the annual rate of inflation based on WPI was 2.04 per cent in July 2024, while it was 3.36 per cent in June 2024.

The inflation rate of primary articles stood at 3.08 percent in July 2024.

The inflation rate of fuel and electricity increased to 1.72 percent in July 2024.

 The inflation rate of manufactured product group increased to 1.58 percent in July.

Retail inflation also declined

Data released earlier this week showed that retail inflation stood at 3.54 percent in July. This is a 5-year low. The Reserve Bank of India ( RBI ) had taken retail inflation into account while formulating monetary policy. In the monetary policy review held in August, the MPC meeting kept the repo rate stable at 6.5 percent for the ninth consecutive time.