WPI Inflation India, August 2022: India’s wholesale inflation eases to 12.41% in August, govt information exhibits

WPI Inflation Rate in India, India Wholesale Price Index (WPI) August 2022 Data: India’s wholesale inflation eased to 12.41 per cent in August, information launched by the Ministry of Commerce & Industry confirmed.

The wholesale worth index (WPI) had spiked to 13.93 per cent throughout the month of July, whereas the WPI for June was revised to 16.23 per cent from 15.18 per cent, the information confirmed. The WPI in August 2021 was 11.64 per cent.

Despite the easing within the wholesale inflation information, the WPI continues to stay within the double digits for the seventeenth consecutive month starting 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,” the federal government launch mentioned.

The meals articles section witnessed a spike of 12.37 per cent in August, the information confirmed. In the month previous to that, this was 10.77 per cent. The month-on-month hike will be attributed to an increase in vegetable costs.

Vegetable costs rose 22.29 per cent in August, towards 18.25 per cent in July, the information confirmed. Prices of potato spiked to 43.56 per cent whereas that of onions slipped (-)24.76 per cent. Prices of fruits witnessed a spike of 31.75 per cent final month from 29.44 per cent in July, whereas that of milk eased to 4.78 per cent from 5.45 per cent a month in the past. Eggs, meat and fish costs rose 7.88 per cent in August up from 5.55 per cent a month in the past and cereals rose 11.77 per cent final month, rising from 9.76 per cent.

The gasoline and energy section eased to 33.67 per cent final month from 43.75 per cent in July. Petrol costs eased to 38.68 per cent from 55.30 per cent month in the past, HSD (High-Speed Diesel) slipped to 60.15 per cent from 72.41 per cent, whereas LPG costs dipped to 19.75 per cent from 32.00 per cent.

The manufactured merchandise section eased to 7.51 per cent in August from 8.16 per cent within the month prior.

In a separate information launched earlier this week, the nation’s retail inflation, measured by the Consumer Price Index (CPI), snapped out of its three months downtrend and rose 7.00 per cent within the month of August.