New Delhi: Wholesale price inflation eased to 12.41 percent in August as against 13.93 percent in July, government data showed on Wednesday. At 12.41 percent, Wholesale price inflation dropped to 11-month low in August.
“The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 12.41% (Provisional) for the month of August, 2022 (over August, 2021). WPI based inflation was 13.93% in July 2022. 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 an official release. (Also read: Investors’ wealth tumbles Rs 2.21 lakh crore in early trade)
Inflation in food articles in August rose to 12.37 per cent, as against 10.77 per cent in July. The rate of price rise in vegetables was 22.29 per cent during the month under review, as against 18.25 per cent in July. (Also read: Harsha Engineers IPO up for grab: From latest GMP to price band, all you need to know)
In the fuel and power basket, inflation was 33.67 per cent in August, as against 43.75 per cent in July. In manufactured products and oil seeds it was 7.51 per cent and (-) 13.48 per cent, respectively.
For the month of June, 2022 the final Wholesale Price Index and inflation rate for ‘All Commodities’ stood at 155.4 and 16.23% respectively.