&w=3840&q=100)
India's wholesale inflation drops to -0.13% in June on food, fuel prices
The WPI measures the average change in prices of goods sold in bulk and serves as a key indicator of inflation at the producer level. It reflects supply and demand trends across sectors such as agriculture, mining, and manufacturing.
The WPI for all commodities stood at 153.8 in June, down from 154.1 in May. On a month-over-month basis, the index declined 0.19 per cent—a sharper fall compared to the 0.06 per cent contraction in May.
WPI Food Index
The food index, which comprises the majority of the WPI basket, declined by 0.26 per cent year-on-year, reversing the 1.72 per cent increase seen in May. This came despite a month-on-month increase in the Food Index to 190.2 from 189.5, supported by higher prices of vegetables, fruits, and milk. However, on an annual basis, vegetable prices were down, with the onions prices falling 33.49 per cent, and potatoes declining by 32.67 per cent.
Fuel and power
Fuel and power prices also softened, with the group index declining 2.65 per cent year-on-year. Within this category, electricity prices dropped 9.10 per cent sequentially.
Petrol and diesel fell 6.57 per cent and 5.12 per cent respectively in Jne 2025 compared to the same month last year.
RBI FY26 inflation forecast
The Reserve Bank of India (RBI) anticipates inflation to remain moderate. In its last monetary policy meeting, the central bank projected retail inflation at 3.7 per cent for FY26, down from its earlier estimate of 4 per cent. The quarterly inflation forecasts are as follows:
Q1 FY26: 2.9 per cent
Q2 FY26: 3.4 per cent
Q3 FY26: 3.9 per cent
Q4 FY26: 4.4 per cent
While favourable trends in food production and commodity prices support this outlook, the RBI cautioned that weather-related disruptions and changing global tariffs could still pose inflationary risks.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
30 minutes ago
- Time of India
Currency watch: Rupee rises 16 paise to 85.76 against dollar; crude oil slide & weak greenback lift sentiment
The rupee appreciated by 16 paise to settle at 85.76 against the US dollar on Tuesday, helped by a weaker greenback and softer crude oil prices globally. However, persistent foreign fund outflows and uncertainty surrounding the ongoing India-US trade negotiations limited the currency's upward movement, according to forex dealers. At the interbank foreign exchange market, the rupee opened at 85.97 and moved in a tight range between 85.75 and 85.97 during the session. It eventually ended the day at 85.76, recovering from its previous close of 85.92, PTI reported. "The Reserve Bank of India has been guarding the rupee at the 86.00 level and on Tuesday also ensured that the rupee opens a tad higher than 86," said Anil Kumar Bhansali, Head of Treasury and Executive Director at Finrex Treasury Advisors LLP. He added, "For tomorrow (Wednesday), we expect the rupee to be in the range of 85.50–86.10 with expectations of more flows." Dollar, crude prices ease The dollar index, which tracks the US currency against a basket of six peers, declined 0.11% to 97.97, supporting emerging market currencies. Brent crude, the global oil benchmark, was down 0.43% to $68.91 per barrel in futures trade, reducing pressure on India's import bill. Trade talks and equity flows in focus The gains in the rupee were tempered by ongoing concerns over the outcome of bilateral trade negotiations between India and the US. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Đây có thể là thời điểm tốt nhất để giao dịch vàng trong 5 năm qua IC Markets Tìm hiểu thêm Undo A team from India's commerce ministry is currently in Washington for the latest round of discussions on the proposed bilateral trade agreement. The four-day meeting began on Monday and is set to conclude on Thursday. M eanwhile, India's merchandise exports held steady at $35.14 billion in June, while the trade deficit narrowed to a four-month low of $18.78 billion, according to government data released Tuesday. On the domestic equities front, both benchmark indices ended in the green. The Sensex rose 317.45 points to close at 82,570.91, and the Nifty advanced 113.50 points to settle at 25,195.80. Foreign institutional investors (FIIs) were net buyers on the day, purchasing equities worth Rs 120.47 crore, according to stock exchange data. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
India Today
36 minutes ago
- India Today
India, US close to finalising jet engine co-production deal for fighter aircraft
India and the United States are moving closer to finalising the much-anticipated deal for the co-production of GE-414 jet engines, defence officials informed India agreement is expected to be signed by the end of this financial year. Once inked, the deal will mark a significant step forward in India's aim to become a leading jet engine manufacturer in the coming GE-414 engines are set to power the upcoming LCA Mark 2 fighter jets, which are expected to be inducted into the Indian Air Force (IAF) within the next four years. The deal has faced delays due to prolonged discussions between Hindustan Aeronautics Limited (HAL) and US-based GE Aerospace. Under the agreement, the engines will be manufactured in India, contributing to the country's self-reliance on defence a parallel development, India received the second GE-404 engine from the US on Monday for the LCA Mark 1A programme. The engine was handed over to HAL, which is set to receive 12 more GE-404 engines by the end of the financial engines will power the LCA Mark 1A aircraft, for which the IAF has already placed an order for 83 units. A proposal to procure 97 additional fighters is also in an advanced stage of this year, GE Aerospace delivered the first of 99 F404-IN20 engines to HAL for the same programme. HAL is now working to integrate these engines into the Mark 1A jets and aims to deliver more than 10 aircraft to the IAF reviews of the project continue, with Principal Secretary to the Prime Minister PK Misra recently visiting HAL's Bengaluru facility to assess progress on both the LCA Mark 1A and Mark 2 LCA Mark 2 is envisioned to replace the aging Mirage 2000, Jaguar, and MiG-29 fleets by around 2035. In the next decade, India aims to manufacture over 400 LCA jets powered by variants of GE engines.- EndsTune InMust Watch
&w=3840&q=100)
Business Standard
an hour ago
- Business Standard
SCO summit: EAM Jaishankar talks conflicts, competition, coercion
In a reference to China restricting the supply of critical minerals, External Affairs Minister (EAM) S Jaishankar on Tuesday expressed India's concerns over 'conflicts, competition and coercion' as well as economic instability, underlining the need to stabilise the global order and address longstanding challenges that 'threaten our collective interests'. Addressing his Shanghai Cooperation Organisation (SCO) counterparts in Tianjin, China, Jaishankar urged the grouping to remain true to its founding objective of combating terrorism and extremism, and to take an 'uncompromising' stance on these issues. He also elaborated on India's rationale for Operation Sindoor, defending the country's response to the Pahalgam terror attack of April 22, in which 26 people were killed. Earlier in the day, Jaishankar, along with other foreign ministers of SCO member states, called on Chinese President Xi Jinping. Jaishankar called for improved transit facilities and better connectivity among SCO member states. 'Deepening collaboration within the SCO naturally requires more trade, investment, and exchanges. For that to move to the next level, it is imperative that we address some current issues,' he observed. 'One of them is the lack of assured transit within the SCO space. Its absence undermines the seriousness of advocating cooperation in economic areas. Another is the need to ensure the promotion of the International North-South Transport Corridor (INSTC),' he said. The INSTC is a 7,200-kilometre-long multi-modal transport project for moving freight among India, Iran, Afghanistan, Armenia, Azerbaijan, Russia, Central Asia, and Europe. India has consistently supported the project. Jaishankar's comments on terrorism — made in the presence of his counterparts from Pakistan, China, and other SCO member nations — come amid India's concerns during and after Operation Sindoor over Beijing's assistance to Islamabad. China has also blocked India's efforts at the United Nations Security Council to sanction Pakistan-based terrorists. On June 26, at the SCO defence ministers' meeting in Qingdao, China, Defence Minister Rajnath Singh had refused to sign a draft joint communiqué because it omitted the Pahalgam terror attack and did not explicitly address India's concerns over Pakistan-backed cross-border terrorism. While Singh had demanded that the April 22 terror attack in Pahalgam be mentioned in the communiqué, the Pakistani delegation insisted that the document include a paragraph on militant activities in Balochistan. 'India wanted concerns reflected in the document, which was not acceptable to a particular country. As such, the joint statement was not adopted,' Ministry of External Affairs spokesperson Randhir Jaiswal had said. On Tuesday, alluding to Beijing's Belt and Road Initiative (BRI), which has faced criticism, Jaishankar said in Tianjin that India will continue to approach new ideas and proposals positively, but such cooperation must be based on 'mutual respect', 'sovereign equality', and in accordance with the 'territorial integrity and sovereignty' of member states. Jaishankar said the Pahalgam attack was 'deliberately conducted' to undermine Jammu & Kashmir's tourism economy and sow religious discord. The SCO foreign ministers' meeting will decide on the agenda for the SCO Summit in Tianjin later this year, which Prime Minister (PM) Narendra Modi is expected to attend. Jaishankar also held separate meetings with his Russian counterpart Sergey Lavrov and Iranian Foreign Minister Abbas Araghchi, focusing on bilateral cooperation and the situation in West Asia. Among other topics, Jaishankar and Lavrov discussed the evolving regional security scenario. Russian President Vladimir Putin is expected to visit India later this year for the annual India-Russia summit. In his speech at the SCO foreign ministers' meeting, Jaishankar said, 'Economic instability is also visibly on the rise. The challenge before us is to stabilise the global order, derisk various dimensions, and, through it all, address longstanding challenges that threaten our collective interests.' He argued that the SCO's ability to shape world affairs will depend on how well it unites behind a shared agenda. 'That means taking everybody on board,' he said. 'The world is today moving towards greater multi-polarity. This is not just in terms of redistribution of national capacities, but also the emergence of effective groupings like the SCO.' The external affairs minister also urged the grouping to step up development assistance to Afghanistan. The SCO — comprising India, China, Russia, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Iran, and Belarus — is an influential economic and security bloc that has emerged as one of the largest transregional international organisations. The Congress on Tuesday expressed hope that PM Modi will 'finally agree' to a discussion on China during the upcoming monsoon session of Parliament, pointing out that if Parliament could debate the border situation during the 1962 Chinese invasion, then there is no reason it can't do so now. Tagging a media report on Jaishankar meeting Xi Jinping and apprising him of recent developments in India-China ties, Congress leader Rahul Gandhi took a swipe at the EAM, saying he is 'now running a full-blown circus aimed at destroying India's foreign policy'. 'I guess the Chinese foreign minister will come and apprise Modi about recent developments in China-India ties. The EAM is now running a full-blown circus aimed at destroying India's foreign policy,' Gandhi said in a post on X. \
