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Last updated: 14 Aug, 2018  

Inflation.9.Thmb.jpg After retail inflation, WPI eases to 5.09 pc in July

Inflation.Down.9.jpg
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SME Times News Bureau | 14 Aug, 2018

The annual rate of inflation based on wholesale prices eased to 5.09 per cent in July from a rise of 5.77 per cent in June, official data showed on Tuesday.

The data on wholesale price index (WPI) furnished by the Ministry of Commerce and Industry showed that the rate of inflation had increased to 1.88 per cent during the corresponding month in 2017.

"Build up inflation rate in the financial year so far was 2.92 per cent compared to a build up rate of 0.62 per cent in the corresponding period of the previous year," the ministry said in its review statement.

On a sequential basis, the expenses on primary articles, which constitute 22.62 per cent of the WPI's total weightage, inched up by 1.73 per cent, from an increase of 5.30 per cent in June 2018.

Prices of food articles dipped. The category has a weightage of 15.26 per cent in the WPI index. It deflated by (-) 2.16 per cent from a rise of 1.80 per cent.

However, the cost of fuel and power category, which commands a 13.15 per cent weightage in the index, increased at a faster pace of 18.10 per cent from a growth of 16.18 per cent.

In addition, expenses on manufactured products registered a rise of 4.26 per cent from 4.17 per cent.

The wholesale data came a day after release of July retail inflation data on Monday.

India's July retail inflation fell to 4.17 per cent from 4.92 per cent in June, even as it continued to rule over the Reserve Bank of India (RBI)'s medium-term inflation target of 4 per cent, official data showed on Monday.

However, on a year-on-year (YoY) basis, the Consumer Price Index (CPI) in July 2018 was higher than in the corresponding period last year, when retail inflation stood at 2.36 per cent.

According to the data furnished by the Central Statistics Office (CSO), the Consumer Food Price Index (CFPI) rose 1.37 per cent in July from 2.91 per cent in June 2018.

Product-wise, prices of milk-based products, eggs, meat and fish pushed the retail inflation higher on a YoY basis.

In contrast, deflation in the cost of vegetables, pulses and sugar capped the overall food prices.

 
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