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CARE Ratings Research Report
Inflation in wholesale prices moderated to 11.2% in July against 12.1% in June 2021 registering double digit growth for the fourth consecutive month.
The elevated WPI inflation level is due to the low base (down 0.3% in July 2020) recorded last year coupled with the hardening of crude oil and manufacturing input prices.
The WPI inflation for May-21 has been revised upwards from 12.9% to 13.1%. Wholesale inflation print for July-21 is in line with the our projection of 11.1%.
Consumer Price Index that measures the retail inflation receded to 5.6% in July-21 (YoY growth) from 6.3% recorded in the previous month led by softening food prices and a strong base from last year.
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