Wholesale Price Inflation Slowed To 11.16% In July 2021.
The decline in the wholesale price index in July 2021 was mainly due to the decline in the prices of primary commodities and fuel and energy.
Data released by the Ministry of Commerce showed that the wholesale price index (WPI) fell from 12.07% in June 2021 to 11.16% in July 2021, mainly due to the slowdown in commodity prices and fuel and energy prices. Business.
The data shows that the decline in the food index also led to a decline in wholesale inflation in July 2021.
The high inflation rate in July 2021 was mainly due to the low base effect and the rising prices of manufactured products such as crude oil and natural gas, mineral oil, base metals, food, textiles, chemicals and chemical products. And other raw materials, corresponding to the previous year Month-to-month,” said an official statement issued by the Ministry of Commerce.
But at the same time, the WPI inflation rate in July remained in the double-digit range for the third consecutive month, mainly due to the low base last year. The IPM inflation rate in July 2020 was (-) 0.25%.

However, crude oil and natural gas prices rose in July 2021 to 40.28%, compared with 36.34% in June 2021. Manufactured goods are also more expensive, 11.20% in July and 10.88% in June 2021.