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Business EconomyPosted at: Sep 14 2018 2:18PM


Wholesale inflation declines to 4-month low at 4.53 pc

New Delhi, Sep 14 (UNI) The wholesale price-based inflation dropped to four-month low of 4.53 per cent in August this year due to lower prices of vegetables, fruits, pulses and sugar in the wholesale market.



The WPI inflation in July this year was 5.09 per cent, while it was 3.24 per cent in August, 2017, according to the data released by the Commerce and Industry Ministry on Friday.



The Ministry said the build-up inflation rate in this financial year so far was 3.18 per cent compared to that of 1.41 per cent in the corresponding period of the previous year.



The main reason of easing the wholesale inflation was the cheaper food articles’ that came down at -4.04 per cent in August this year. In this basket, the prices of vegetables deflated by 20.18 per cent, fruits by 16.40 per cent, pulses by 14.26 per cent and onions by 26.80 per cent.



In fuel and power category, the inflation rose to 17.73 per cent due to increase of domestic fuel prices in line with high global crude oil rates, the data showed. While inflation in liquefied petroleum gas (LPG) was 46.08 per cent, in diesel and petrol it was 19.90 per cent and 16.30 per cent, respectively, in August this year.



The wholesale inflation rate of manufactured products was pegged at 4.43 per cent. Of this bracket, the sugar inflation rate deflated by 11.07 per cent.



The inflation rate of Manufacture of Vegetable and Animal Oils and Fats was 11.95 per cent. The inflation rate of basic metals was 13.30 per cent, mild steel and semi-finished steel 8.03 per cent, fabricated metal products except machinery and equipment was 8.65 per cent.



Earlier this week, the retail inflation came down to a 10-month low of 3.69 per cent in August this year. RBI mainly takes into account retail inflation data while formulating monetary policy.

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