High fuel prices push up August WPI inflation to 11.39 pc
The annual rate of inflation based on monthly wholesale price index (WPI) rose to 11.39 per cent in August from the previous month's 11.16 per cent, government data showed on Tuesday.
The annual rate of inflation based on monthly wholesale price index (WPI) rose to 11.39 per cent in August from the previous month's 11.16 per cent, government data showed on Tuesday. The escalation was due to increase in cost of fuel and manufactured items, according to a statement issued by the Ministry of Commerce and Industry.
In August last year, the WPI inflation was 0.41 per cent. Fuel and power prices rose 26.09 per cent in August 2021 year-on-year compared with 26.02 per cent in July. Manufactured product prices rose 11.39 per cent compared with 11.2 per cent in the previous month.
However, wholesale prices of food rose at a slower pace of 3.43 per cent in August on-year compared to 4.46 per cent in the previous month. "The high rate of inflation in August 2021 is primarily due to the rise in prices of non-food articles, mineral oils; crude petroleum and natural gas; manufactured products like basic metals; food products; textiles; chemicals and chemical products, etc as compared to the corresponding month of previous year," said the statement.
In manufactured products, inflation stood at 11.39 per cent in August against 11.2 per cent in July. But inflation in food articles fell by 1.29 per cent in August from zero per cent. Inflation in onions was high at 62.78 per cent while that in pulses was 9.41 per cent.
In vegetables, it was minus 13.3 per cent. Inflation in crude petroleum and natural gas was 40.03 per cent. A day earlier, the government said retail inflation eased to 5.3 per cent due to falling food prices. (ANI)
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