The annual rate of inflation based on monthly Wholesale Price Index (WPI) declined for the second consecutive month to its 23-month low of 2.02 per cent in June as compared to 2.45% (provisional) for the previous month and 5.68% during the corresponding month of the previous year.
The decline was witnessed due to decline in prices of vegetables as well as fuel and power items, according to official data released.
WPI inflation in manufacturing fell to 0.94 per cent in June 2019, which was 1.28 per cent in the previous month.
Prices of raw rubber rose by 12 per cent, prices of fodder rose by 5 per cent and the prices for groundnut seed rose by 4 per cent.
Inflation in ‘fuel and power’ category reduced to (-) 2.20 per cent, from 0.98 per cent last month.
Vegetable inflation softened to 24.76 per cent in June, down from 33.15 per cent in the previous month. Inflation in potato was (-) 24.27 per cent, against (-) 23.36 per cent in May.
However, onion prices continued the rising trend with inflation at 16.63 per cent during the month, as against 15.89 per cent in May.