WPI inflation on costly manufactured items rose to 11.39 per cent in August; fall in meals costs

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WPI inflation stood at 11.16% in July 2021.

Wholesale price-based inflation rose marginally to 11.39% in August, primarily attributable to larger costs of manufactured items, whilst meals costs softened.

Breaking the two-month easing pattern, WPI inflation rose in August and remained in double digits for the fifth consecutive month. WPI inflation stood at 11.16% in July 2021.

WPI inflation stood at 0.41% in August 2020.

“The upper price of inflation in August 2021 is especially attributable to improve in costs of non-food gadgets, mineral oils, crude petroleum and pure fuel, manufactured merchandise like primary metals, meals merchandise, textiles, chemical compounds and chemical merchandise and so on. up to now. this month of the 12 months,” the Ministry of Commerce and Trade mentioned in an announcement.

Meals inflation eased for the fourth consecutive month, registering (-) 1.29% in August, from zero per cent in July, whilst the costs of onions and pulses rose. The inflation price of onion was 62.78%, whereas that of pulses was 9.41%. In greens it was (-) 13.30% in August.

Inflation in crude petroleum and pure fuel stood at 40.03% in August.

Inflation in manufactured merchandise stood at 11.39% in August, as towards 11.20% in July.

The RBI, which primarily takes into consideration retail inflation, saved rates of interest unchanged at a document low in its financial coverage final month. It projected CPI or retail inflation at 5.7% throughout 2021-22, larger than its earlier estimate of 5.1%.

Information launched on Monday confirmed retail inflation fell to a four-month low of 5.3% in August from 5.59% within the earlier month, led by a fall in meals costs.