Wholesale Inflation Stays In Damaging For Fifth Month At -0.52% In August

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Inflation in meals articles remained in double digit at 10.60 per cent in August.

New Delhi:

Wholesale price-based inflation remained within the detrimental territory for the fifth straight month in August at (-)0.52 per cent, however costs of meals articles and gasoline confirmed an uptick.

The wholesale value index (WPI) based mostly inflation charge has been within the detrimental since April and was (-)1.36 per cent in July. In August final yr it was 12.48 per cent.

Inflation in meals articles remained in double digit at 10.60 per cent in August, decrease than 14.25 per cent in July.

“The detrimental charge of inflation in August 2023 is primarily as a consequence of fall in costs of mineral oils, primary metals, chemical & chemical merchandise, textiles and meals merchandise as in comparison with the corresponding month of earlier yr,” the commerce and trade ministry stated on Thursday.

Gas and energy basket inflation was at (-)6.03 per cent in August, towards (-) 12.79 per cent in July.

In manufactured merchandise, inflation charge was (-)2.37 per cent, as towards (-)2.51 per cent in July.

The RBI final month saved key rate of interest unchanged at 6.5 per cent for the third straight assembly however signalled tighter coverage if meals costs drive inflation larger.

The central financial institution takes under consideration retail or client value index based mostly inflation for formulating financial coverage. Retail inflation knowledge for August got here in at 6.83 per cent in August, decrease than 7.44 per cent in July.  

(Aside from the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)

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