India’s WPI inflation eases to 12.41% in Aug, wholesale price remains in double digits for 17-months straight | The Financial Express

India’s WPI inflation eases to 12.41% in Aug, wholesale price remains in double digits for 17-months straight

India’s WPI inflation eased to 12.41 per cent in August, against 13.93 per cent in July, government data showed on Wednesday.

India’s WPI inflation eases to 12.41% in Aug, wholesale price remains in double digits for 17-months straight
For the fuel and power segment, the WPI inflation number eased to 33.67 per cent last month

India’s WPI inflation eased to 12.41 per cent in August, against 13.93 per cent in July, government data showed on Wednesday. Despite the cool-off in August, WPI continued to remain in the double digits for the 17th straight month beginning April 2021. “Inflation in August, 2022 is primarily contributed by rise in prices of mineral oils, food articles, crude petroleum & natural gas, basic metals, chemicals & chemical products, electricity, food products etc. as compared to the corresponding month of the previous year,” said the Ministry of Commerce and Industry in a statement.

Also read: Delhi GST collection jumps 21% on-year to Rs 4,349 crore in August on strong business activity, consumption

Inflation in the food articles segment saw an increase of 12.37 per cent in August, up from 10.77 per cent recorded in July. Vegetable prices rose 22.29 per cent in August, against 18.25 per cent in the previous  month, the data showed. Potato prices increased to 43.56 per cent, while prices of onions fell 24.76 per cent. Prices of fruits rose 31.75 per cent last month from 29.44 per cent in July, while the milk prices eased to 4.78 per cent from 5.45 per cent a month ago. Eggs, meat and fish prices spiked to 7.88 per cent in August, rising from 5.55 per cent a month ago and cereals increased by 11.77 per cent last month, rising from 9.76 per cent. 

For the fuel and power segment, the WPI inflation number eased to 33.67 per cent last month from 43.75 per cent in July. Petrol prices eased to 38.68 per cent from 55.30 per cent in July, HSD (High-Speed Diesel) fell to 60.15 per cent from 72.41 per cent, while LPG prices slipped to 19.75 per cent from 32 per cent in July.

The manufactured products segment eased to 7.51 per cent in August from 8.16 per cent in the month prior. The rate of inflation based on WPI Food Index increased to 9.93 per cent in August, from 9.41 per cent in July. Primary Articles registered a growth of 14.93 per cent per cent in August 2022, as compared to a growth of 5.93 per cent in the corresponding period of previous year. For the fuel and power segment, the WPI inflation number came in at 33.67 per cent as against 28.15 per cent in the same month last year.

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