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India’s Wholesale Inflation Eases to 4.53 per cent in August


India’s Wholesale Inflation Eases to 4.53% in August (Photo Credit: PRAKASH SINGH/AFP/Getty Images).
India’s Wholesale Inflation Eases to 4.53% in August (Photo Credit: PRAKASH SINGH/AFP/Getty Images).

India’s annual rate of inflation, based on monthly wholesale price index (WPI), eased to 4.53 per cent for the month of August, 2018 when compared to 5.09 per cent recorded in the previous month, according to the data released by Ministry of Commerce and Industry on Friday (14).

However, the data, 4.53 per cent is higher when compared to the inflation rate of 3.24 per cent recorded during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 3.18 per cent compared to a build-up rate of 1.41 per cent in the corresponding period of the previous year.

The index for primary article group rose by 0.1 per cent to 135.1 from 134.9 for the previous month.

The fuel and power index rose by 0.5 per cent to 104.9 from 104.4 for the previous month.

The index for mineral oils group rose by 0.8 percent to 98.3 from 97.5 for the previous month due to higher price of LPG (5 per cent), petroleum coke (3 per cent), kerosene and ATF (2 per cent each) and naphtha and bitumen (1 per cent each).

The index for manufactured products group rose by 0.3 per cent to 117.8 from 117.4 for the previous month.

Inflation in liquefied petroleum gas (LPG) was 46.08 per cent followed by 19.90 per cent in diesel and 16.30 per cent in petrol in August.

Potato prices continued to move up and stay at 71.89 per cent in August, while onion and fruits witnessed a fall of 26.80 per cent and 16.40 per cent. Pulses recorded continued to stay in deflationary at 14.23 per cent.