WPI New Delhi: India's wholesale price index (WPI)-based inflation eased further to 12.41 per cent in August 2022 from 13.93 per cent in July, as per data released by the Commerce & Industry Ministry on Wednesday.
Even as wholesale inflation has eased it remains elevated and in double-digit for the last almost 17 months.
Month over Month Change in Major Groups of WPI:
Primary Articles (Weight 22.62%):- The index for this major group increased by 0.62% to 178.6 (provisional) in August, 2022 from 177.5 (provisional) for the month of July, 2022. Prices of Non-food Articles (1.98%) and Food Articles (1.57%) increased in August, 2022 as compared to July, 2022. Prices of Minerals (-1.90%) and Crude Petroleum & Natural Gas (-7.34%) declined in August, 2022 as compared to July, 2022.
Fuel & Power (Weight 13.15%):- The index for this major group declined by 4.83% to 157.6 (provisional) in August, 2022 from 165.6 (provisional) for the month of July, 2022. Prices of Electricity (2.85%) increased in August, 2022 as compared to July, 2022. Prices of Mineral Oils (-7.79%) declined in August, 2022 as compared to July, 2022.
Manufactured Products (Weight 64.23%):- The index for this major group increased by 0.07% to 143.2 (provisional) in August, 2022 from 143.1 (provisional) for the month of July, 2022. Out of 22 NIC two-digit groups for Manufactured Products, 12 groups have witnessed an increase in prices while 10 groups have witnessed a decrease in price.
The increase in prices is mainly contributed by other non-metallic mineral products, Motor Vehicles, Trailers & Semi-Trailers, Electrical Equipment, Pharmaceuticals, Medicinal Chemical & Botanical Products, Computer, Electronic & Optical Products, Machinery & Equipment, Wearing Apparel, Paper & Paper Products, etc in August, 2022 as compared to July, 2022.
Some of the groups that have witnessed decrease in prices are food products, textiles, chemical & chemical products, rubber & plastic products, furniture, and other manufacturing, etc. in August, 2022 as compared to July, 2022.
WPI Food Index (Weight 24.38%): The Food Index consisting of 'Food Articles' from Primary Articles group and 'Food Product' from Manufactured Products group have increased from 174.4 in July, 2022 to 176.0 in August, 2022.
The rate of inflation based on WPI Food Index increased from 9.41% in July, 2022 to 9.93% in August, 2022.
Final index for the month of June, 2022 (Base Year: 2011-12=100): For the month of June, 2022 the final Wholesale Price Index and inflation rate for 'All Commodities' (Base: 2011-12=100) stood at 155.4 and 16.23% respectively.
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