India’s trade deficit eases to $20.78 billion in September
India’s trade deficit eased to $20.78 billion in September as merchandise imports growth slowed to 1.6%, the data issued by the Ministry of Commerce and Industry said.
Easing prices of food products, primary articles sequentially decelerated India’s July 2021 wholesale inflation.
Accordingly, the annual rate of inflation, based on wholesale prices, rose to 11.16 per cent last month from 12.07 per cent in June.
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However, on a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry has risen exponentially over July 2020.
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The inflation rate had stood at (-)0.25 per cent in July 2020.
“The annual rate of inflation is 11.16 per cent (Provisional) for the month of July, 2021 (over July, 2020) as compared to ((-)0.25 per cent) in July, 2020. The high rate of inflation in July 2021 is primarily due to low base effect and rise in prices of crude petroleum and natural gas; mineral oils; manufactured products like basic metals; food products; textiles; chemicals and chemical products etc. as compared the corresponding month of the previous year,” the ministry said in its review of ‘Index Numbers of Wholesale Price in India’ for July.
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