Slight relief on inflation front, wholesale comes down!!!
Based on India's Wholesale Price Index (WPI), wholesale inflation rate stood at 1.31 percent in august, while it was at 2.04 percent in July. This inflation rate is the lowest in the last 4 months. The Ministry of Commerce and industry released the data on tuesday and according to it, this time the wholesale inflation rate has declined mainly due to the reduction in food inflation.
Food inflation rate or wholesale inflation rate of food articles
Food inflation stood at 3.11 percent in August. It was 3.45 percent in July. This reduction is visible due to the reduction in the prices of food items and manufactured products.
If we look at the wholesale inflation rate of food articles, the price of grains has fallen by 8.44 percent, the price of paddy by 9.12 percent and the price of pulses by 18.57 percent. However, onion prices saw a slight decline and its wholesale inflation rate fell by 65.75 percent in August. Despite such a decrease in inflation rate, its inflation rate was seen to be high, but on the other hand, the wholesale inflation rate of potato saw a bumper rise of 77.96 percent in the month of August. At the same time, the price of fruits saw a rise of 16.7 percent.
Know the special reasons for the decline in wholesale inflation rate
Due to the cheapness of vegetables, food items and fuel, wholesale inflation rate declined for the second consecutive month and stood at 1.31 percent in August. Wholesale Price Index (WPI) based wholesale inflation was 2.04 percent in July, whereas a year ago in august 2023 it was -0.46 percent i.e. it went below zero. Wholesale inflation in the fuel and power segment stood at 0.67 percent in august, which was at 1.72 percent in July. That is, the wholesale inflation of this segment has gone down significantly.
For more interesting updates wa click and follow Indiaherald WhatsApp channel

Find out more:

#Inflation

Subashini

17/09/2024 07:29 PM