India WPI - Wholesale Price Inflation Eased To 12.1% In June Led By Minerals, Crude Oil, Natural Gas: ICRA

A person fills up his Jeep at a gas station. (Photographer: Scott Olson/Bloomberg News)

India WPI - Wholesale Price Inflation Eased To 12.1% In June Led By Minerals, Crude Oil, Natural Gas: ICRA

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICRA Research Report

As expected, the year-on-year wholesale price index inflation softened to 12.1% in June 2021 (down 1.8% in June 2020) from a series-high 12.9% in May 2021 (down 3.4% in May 2020), with a normalising base contributing to a sharp correction in the inflation for minerals, and crude oil and natural gas, despite a rise in global commodity prices.

The inflation print for June 2021 was modestly lower than our forecast (12.3%).

The softening in the YoY WPI inflation in June 2021 relative to May 2021, was broad-based, led by crude petroleum and natural gas, minerals, fuel and power, manufactured food products and primary food articles.

In contrast, the inflation for core-WPI, and primary non-food articles hardened in June 2021 relative to the previous month.

Click on the attachment to read the full report:

ICRA WPI June.pdf

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