New Delhi: The wholesale price-based inflation (WPI) has declined in the country. This is for the third month in row that WPI based inflation is declining. As per the data released by the Union government, the WPI is at 12.41% in last month. It was at 13.93% in July. August is the 17th consecutive month of double-digit wholesale price inflation (WPI). It was at 11.64% in August last year.
The WPI had touched a record high of 15.88% in May, this year. Inflation in food articles in August rose to 12.37%, as against 10.77% in July. The rate of price rise in vegetables was 22.29% in August, as against 18.25% in July.
Also Read: Bus falls into deep gorge in Kashmir’s Rajouri; 4 killed, several injured
Inflation was 33.67% in the fuel and power basket in August. It was at 43.75% in July. In manufactured products and oil seeds it was 7.51% and (-) 13.48%, respectively.
Retail inflation has remained above the Reserve Bank’s upper tolerance threshold of 6% for the eighth month in a row and was at 7% in August.
Wholesale Price Index (WPI) is a measure of the average change in the price of goods at a wholesale level or in the wholesale market. Consumer Price Index (CPI) is another price index that calculates price changes of goods and services that a consumer has to pay in the retail market. The monetary police of Reserve Bank of India is made after reviewing the CPI.
Post Your Comments