New Delhi: The wholesale price index (WPI)-based inflation in India declined to a 4-month low in August. The wholesale price index (WPI)-based inflation stood at 1.31 per cent on an annual basis in August. It was at 2.04 per cent in July. Data released by the Ministry of Commerce and Industry showed this.
The Food Index — consisting of ‘food articles’ from primary articles group and ‘food product’ from manufactured products group — decreased from 195.4 (provisional) in July to 193.2 in August.
The annual rate of inflation based on WPI Food Index decreased from 3.55 per cent in July to 3.26 per cent in August. Index for Primary Articles declined by 1.37 per cent to 194.9 in August from 197.6 for the month of July.
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Prices of minerals (-2.66 per cent), crude petroleum and natural gas (-1.84 per cent) and food articles (-1.83 per cent) decreased in August as compared to July. The Price of non-food articles (1.65 per cent) went up in August.
The WPI index for fuel and power increased by 0.14 per cent to 148.1 in August from 147.9 for July, 2024. Price of electricity (1.59 per cent) increased while price of mineral oils (-0.32 per cent) decreased. The price of coal witnessed no change in August. The index for manufactured products declined by 0.07 per cent to 141.6 in August from 141.7 in July.
In August, India’s retail inflation was 3.65 per cent but remained below the Reserve Bank of India’s (RBI) target of 4 per cent.
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 a 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 are made after reviewing the CPI.
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