Economy

WPI inflation rises 0.16% in August; food, manufactured items turn costlier

A view of a roadside vendor selling vegetables in Aluva near Kochi. File   | Photo Credit: K.K. Mustafah

The wholesale price-based inflation rose 0.16 per cent in August as food items and manufactured products turned costlier.

The Wholesale price index based (WPI) inflation was in the negative territory for four straight months — April (-) 1.57%, May (-) 3.37%, June (-) 1.81% and July (-) 0.58%.

“The annual rate of inflation, based on monthly WPI, stood at (0.16 per cent) (provisional) for the month of August, 2020 (over August, 2019) as compared to 1.17% during the corresponding month of the previous year,” the Commerce and Industry Ministry said in a statement on Monday.

Inflation in food articles during August stood at 3.84%. The rate of rise in potato prices stood at 82.93%.

Inflation in vegetables stood at 7.03%, while in onion it was (-) 34.48%.

Fuel and power inflation fell 9.68 per cent in August, as against 9.84% in the previous month.

Manufactured products, however, witnessed hardening of inflation at 1.27% in August against 0.51% in July.

The Reserve Bank of India (RBI) in its policy review last month kept interest rates unchanged and said it sees an upside risk to inflation. The apex bank projected retention of inflation to moderate in October-March period.


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Printable version | Sep 18, 2021 8:32:34 PM | https://www.thehindu.com/business/Economy/wpi-inflation-rises-016-in-august-food-manufactured-items-turn-costlier/article32598472.ece

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