On June 14, 2024, India released its latest Wholesale Price Index (WPI) data, revealing a notable shift in manufacturing inflation. As of May 2024, India's WPI for manufacturing saw an increase, reaching 0.78%, marking a significant rebound from the -0.42% recorded in April 2024.
This change highlights a turnaround for the sector, which had been experiencing deflationary pressures. The previous month’s figure, recorded in April, had shown a decline of 0.42% on a year-over-year basis. In contrast, May's data indicates positive growth in manufacturing prices compared to the same period last year.
The data update comes at a critical time for India’s economy, reflecting shifts in production costs and pricing power within the manufacturing sector. As stakeholders analyze these figures, they will be crucial for understanding the broader economic trends and planning for future investments and policy decisions.
