India's Wholesale Price Index (WPI) for food prices has experienced a significant spike, reaching 10.87% in June 2024. This comes after the indicator stood at 9.82% in May 2024, according to data updated on July 15, 2024.
The recent surge marks a stark increase when the data is compared year-over-year. The previous measure, recorded at 9.82%, was a comparison of May 2024 to May 2023. The current indicator for June 2024 shows a more substantial rise compared to June 2023, highlighting growing inflationary pressures in the food segment of the Indian economy.
Economists and policymakers are closely monitoring this trend, as persistent increases in food prices can have far-reaching impacts on the broader economy, affecting everything from consumer spending to monetary policy decisions.
