Report Wire - India’s WPI inflation spikes to 11.39% in August: Govt information

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India’s WPI inflation spikes to 11.39% in August: Govt information

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cpi retail inflation

The wholesale inflation throughout the nation rose to 11.39 per cent in August, the info launched by the Ministry of Commerce & Industry confirmed.
The wholesale worth index (WPI) grew 11.16 per cent in the course of the month of July, whereas the WPI for June was 12.07 per cent, the info confirmed. The WPI in August 2020 was at 0.41 per cent.
“The high rate of inflation in August 2021 is primarily due to rise in prices of non-food articles, mineral oils; crude petroleum & natural gas; manufactured products like basic metals; food products; textiles; chemicals and chemical products etc as compared the corresponding month of the previous year,” the ministry assertion stated.
The meals articles phase witnessed a (-)1.29 per cent change in August, the info confirmed. In the month previous to that, this was zero per cent.

Vegetable costs contracted (-)13.30 per cent in August, in opposition to (-) 8.73 per cent in July, the info confirmed. costs of potato fell (-)39.81 per cent whereas that of onions grew 62.78 per cent. Apart from this, costs of pulses grew 9.41 per cent final month, whereas that of fruits slipped (-)5.10 per cent. Eggs, meat and fish costs rose 3.46 per cent in August.
The gasoline and energy phase inched to 26.09 per cent in August from 26.02 per cent a month in the past. Petrol costs rose by 61.53 per cent, HSD (High-Speed Diesel) gained by 50.69 per cent and LPG costs inched by 48.11 per cent.
The manufactured merchandise phase rose 11.39 per cent final month led by a 40.49 per cent soar in vegetable and animal oils and fat.
In separate information launched by the federal government on Monday, the retail inflation or shopper worth index (CPI) eased to a four-month low of 5.30 per cent in August.