Wholesale inflation rises in August on high food, fuel prices


NEW DELHI: High food, fuel and manufactured goods’ prices accelerated India’s August wholesale inflation, official data showed on Monday.
On sequential level, India’s annual rate of inflation based on wholesale prices rose to 0.16 per cent in August from (-) 0.58 per cent in July.
On a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the ministry of commerce and industry has risen to 1.17 per cent during the corresponding period of the previous year.
The index for primary articles with a weightage of 22.62 per cent increased by 1.81 per cent to 146.3 in August from 143.7 in July. Prices of minerals increased by 10.21 per cent, crude petroleum and natural gas by 4.72 per cent, non-food articles by 3.06 per cent and food articles by 0.93 per cent.
The index for fuel and power with a weightage of 13.15 per cent increased by 0.77 per cent to 91.4 in August from 90.7 in July. Prices of mineral oils increased by 1.3 per cent while prices of coal and electricity remain unchanged.
The index manufactured products with a weightage of 64.23 per cent increased by 0.59 per cent to 119.3 from 118.6. Out of the 22 NIC two-digit groups for manufactured products, 11 groups that witnessed increase in prices are manufacture of food products are beverages, leather and related products, wood and of products of wood and cork, printing and reproduction of recorded media, pharmaceuticals, medicinal chemical and botanical products, basic metals, electrical equipment, machinery and equipment, and other transport equipment.
The food index with a weightage of 24.38 per cent consisting of increased from 152 in July to 153.3 in August. The annual rate of inflation based on the WPI food index decreased from 4.32 per cent in July to 4.07 per cent in August.

Source link


Please enter your comment!
Please enter your name here

Enable Google Transliteration.(To type in English, press Ctrl+g)