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India's wholesale inflation in August accelerates to 3.24%

14 Septembre 2017

According to reports, the wholesale inflation of petrol and diesel rose by 24.55 percent and 20.30 percent, respectively in August 2017 as against the same month of previous year.

Wholesale food prices in August rose 4.41% on year, compared with a 2.12% rise a month earlier, government data showed on Thursday.

Petrol prices in August rose by 24.55 per cent while diesel prices rose by 20.30 per cent. Fuel prices had grown by 4.35 per cent in July. That was nearly in line with the 3.20 percent increase economists had forecast.

On a segment-wise basis, expenses on primary articles, which constitute 22.62 per cent of the WPI's total weightage, edged higher by 2.66 per cent from an increase of 0.46 per cent in July 2017.

Latest price data released by the commerce ministry today showed that food prices, especially pulses continued to fall owing to a supply glut, while a rise in certain food items pulled up the inflation level.

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In terms of food prices, the YoY wholesale inflation rate for onion was higher by 88.46 per cent, whereas for potatoes it plunged by (-) 43.82 per cent.

The index for "Manufacture of Tobacco Products" group rose by 2.9 percent due to higher price of other tobacco products (seven percent) and beedi (six percent).

In ICRA's view, the core WPI inflation has remained largely stable over the last three months.

The wholesale price-based inflation, reflecting. Notable increase was also seen in the category of vegetables (44.91 per cent) and food articles (5.75 per cent).

India's wholesale inflation in August accelerates to 3.24%