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WPI Inflation India, August 2022: India’s wholesale inflation eases to 12.41% in August, govt data shows

India WPI Inflation August 2022: The wholesale price index (WPI) had spiked to 13.93 per cent in July and it rose to 16.23 per cent in June, the data from the Ministry of Commerce & Industry showed.

WPI Inflation | WPI Inflation rate | Wholesale Price Index | WPI August 2022August WPI Inflation Rate in India: Wholesale market adjacent to Baruipara railway station in Hooghly district. (Express photo by Partha Paul)

WPI Inflation Rate in India, India Wholesale Price Index (WPI) August 2022 Data: India’s wholesale inflation eased to 12.41 per cent in August, data released by the Ministry of Commerce & Industry showed.

The wholesale price index (WPI) had spiked to 13.93 per cent during the month of July, while the WPI for June was revised to 16.23 per cent from 15.18 per cent, the data showed. The WPI in August 2021 was 11.64 per cent.

Despite the easing in the wholesale inflation data, the WPI continues to remain in the double digits for the 17th consecutive month beginning April 2021.

“Inflation in August, 2022 is primarily contributed by rise in prices of mineral oils, food articles, crude petroleum & natural gas, basic metals, chemicals & chemical products, electricity, food products etc. as compared to the corresponding month of the previous year,” the government release said.

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The food articles segment witnessed a spike of 12.37 per cent in August, the data showed. In the month prior to that, this was 10.77 per cent. The month-on-month hike can be attributed to a rise in vegetable prices.

Vegetable prices rose 22.29 per cent in August, against 18.25 per cent in July, the data showed. Prices of potato spiked to 43.56 per cent while that of onions slipped (-)24.76 per cent. Prices of fruits witnessed a spike of 31.75 per cent last month from 29.44 per cent in July, while that of milk eased to 4.78 per cent from 5.45 per cent a month ago. Eggs, meat and fish prices rose 7.88 per cent in August up from 5.55 per cent a month ago and cereals rose 11.77 per cent last month, rising from 9.76 per cent.

The fuel and power segment eased to 33.67 per cent last month from 43.75 per cent in July. Petrol prices eased to 38.68 per cent from 55.30 per cent month ago, HSD (High-Speed Diesel) slipped to 60.15 per cent from 72.41 per cent, while LPG prices dipped to 19.75 per cent from 32.00 per cent.

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The manufactured products segment eased to 7.51 per cent in August from 8.16 per cent in the month prior.

In a separate data released earlier this week, the country’s retail inflation, measured by the Consumer Price Index (CPI), snapped out of its three months downtrend and rose 7.00 per cent in the month of August.

First published on: 14-09-2022 at 12:08:16 pm
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