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WPI inflation eases to 2% in June
Why it is news?
- According to official data release, wholesale price-based inflation declined for the second consecutive month to its 23-month low of 2.02% in June, helped by a decline in prices of vegetables as well as fuel and power items.
What is WPI?
- A wholesale price index (WPI) is an index that measures and tracks the changes in the price of goods in the stages before the retail level – that is, goods that are sold in bulk and traded between entities or businesses instead of consumers.
- Usually expressed as a ratio or percentage, the WPI shows the included goods' average price change and is often seen as one indicator of a country's level of inflation.
Source
The Hindu