Wholesale Price Index (WPI) reported no change in August and remained at 1.08 percent; the same level as the previous month, said a government data.
In July, wholesale inflation as measured by the Wholesale Price Index (WPI), was reported to be at 1.08 percent, a 25-month low figure.
In August last year, it was at 4.62 percent. Inflation in fuel and power sector dropped by 4 percent in August from 3.64 percent fall in July. The manufacturing sector dropped flat from a 0.34 percent growth in the trailing month.
“The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from the Primary Articles group and ‘Food Product’ from Manufactured Products group increased from 4.54 percent in July, 2019 to 5.75 percent in August 2019,” said an official communiqué by the commerce and industry ministry.
The WPI remained unchanged June at 2.02 percent as per government data.
Data unveiled last week reported that India’s retail inflation escalated to a 10-month high of 3.21 percent in August but remained below the central bank’s 4 percent medium-term target, concreting expectations of another rate cut next month.
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/
