New Delhi: The wholesale price-based inflation eased to 12.41 per cent in the month of the August, according to the data released by the Ministry of Commerce & Industry showed.
As per the data released, the Wholesale Price Index-based inflation was 13.93 per cent in July and 11.64 per cent in August last year.
“The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 12.41% (Provisional) for the month of August, 2022 (over August, 2021). WPI based inflation was 13.93% in July 2022. 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. ,” said an official release.
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.
For the month of June, 2022 the final Wholesale Price Index and inflation rate for ‘All Commodities’ stood at 155.4 and 16.23% respectively.