After the retail inflation data, that was released on August 12, the government has now released the Wholesale Price Index, or Wholesale inflation rate. According to the data, the WPI has eased to 2.04 per cent.
Food Inflation Eases
This is lower than the previous month's 3.36 per cent. In addition, it is important to note that the food inflation rate also declined to 3.55 per cent. This is significantly lower than the previous month's 8.68 per cent. This marked a difference of 513 basis points.
In addition, it is important to note that the food inflation rate also declined to 3.55 per cent. |
There was a similar trend in the cases of wholesale inflation for primary articles as well. The inflation rate stood at 3.08 per cent for the recently concluded month, compared to 8.80 per cent in June.
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However, it should also be noted that the wholesale inflation rate for Fuel and power saw a rise. It stood at 1.03 per cent in the month of June. This figure rose to 1.72 per cent in July.
In this case, when it comes to the rate of inflation for vegetables, the year-on-year rate stood at -8.93 per cent compared to the previous rate of the previous year, when the rate stood at 67.59 per cent.
In food articles, which by themselves constitute 15.26 per cent of the weight, milk tops the list with 4.44 per cent of weightage. Milk also saw its rate of inflation decline from 8.21 per cent, this time last year, to 4.55 per cent this July.
In food articles, that by themselves constitute for 15.26 per cent of the weight, milk tops the list with 4.44 per cent of weightage. | Pixabay
Fuel & Power Inflation
Egg, meat and fish also saw their rate of inflation move from 1.96 per cent to -1.59 per cent.
In fuel and power, LPG saw the biggest difference. The rate of inflation recorded for July 2024 stood at 6.06 per cent, compared to -20.69 per cent in July 2023.
In addition, manufactured products, which account for 64.23 per cent of the weight, saw its inflation rate rise to 1.58 per cent, compared to 1.43 per cent in the previous month.
