According to figures provided by the Ministry of Commerce and Industry, wholesale inflation in the country climbed to 11.39 percent in August. The wholesale pricing index (WPI) increased 11.16 percent in July, compared to 12.07 percent in June, according to the statistics. In August 2020, the WPI was 0.41 percent.
According to the report, the food articles category decreased by (-)1.29% in August. This had been zero percent the month before.
According to the statistics, vegetable prices fell by (-) 13.30% in August, compared to (-) 8.73% in July. Potato prices decreased by (-)39.81 percent, while onion prices increased by 62.78 percent. Apart from that, pulse prices increased by 9.41% last month, while fruit prices decreased by (-)5.10%. In August, the cost of eggs, pork, and fish increased by 3.46 percent.
In August, the fuel and power category increased from 26.02 percent to 26.09 percent. Petrol prices increased by 61.53%, HSD (High-Speed Diesel) prices increased by 50.69%, and LPG prices increased by 48.11%. Last month, the manufactured products sector increased by 11.39 percent, owing to a 40.49 percent increase in vegetable and animal oils and fats.
“The high rate of inflation in August 2021 is primarily due to increases in prices of non-food articles, mineral oils, crude petroleum & natural gas, manufactured products such as basic metals, food products, textiles, chemicals, and chemical products, and other non-food items as compared to the same month the previous year,” according to the ministry statement.
Source: The Indian Express