Inflation eases but commodity prices still a worry
According to data released by the Union Government, The annual rate of inflation, stood at 3.74% for the month of August as compared to 5.19% for the previous month.
The rate stood at 6.99% during the period of August 2013.
Build up inflation rate in the financial year so far was 3.00% compared to a build up rate of 5.23% in the corresponding period of the previous year.
But the worry still remains as the Wholesale Price Index (WPI) for ‘All Commodities’, on which inflation is based, for the month of August rose by 0.6 percent to 185.7 from 184.6 (provisional) for July.
Government data showed, The index for this major group rose by 2.0 percent to 261.7 from 256.6 for the previous month.
The index for ‘Food Articles’ group rose by 2.6 percent to 265.4 from 258.6 for the previous month due to higher price of fruits & vegetables (7%).
The prices of many primary food articles rose higher than previous month.
Potato rose from 46.61 to 61.61. Milk rose from 10.46 to 12. 18, Pulses rose from 3.31 to 7.81.
But the prices of cereals, rice, wheat, onion, egg meat & fish came down.
The index for ‘Non-Food Articles’ group rose by 0.3 percent to 218.7 from 218.1. In this section, the price of oil-seeds rose from 6.36 to 12.18.
Food Products rose by 0.1 percent to 174.7 from 174.6.
Beverages, Tobacco & Tobacco Products rose by 0.5 percent to 199.6 from 198.7.
Textiles price rose by 0.1 percent to 144.2 from 144.1.
The index for manufactured products rose by 0.3 percent to 155.8 from 155.4.
The index for ‘Paper & Paper Products’ group rose by 0.2 percent to 149.6 from 149.3.
Leather & Leather Products rose by 1.7 percent to 146.7 from 144.3.
Rubber & Plastic Products rose by 0.2 percent to 150.9 from 150.6.
Chemicals & Chemical Products rose by 0.5 percent to 154.1 from 153.3.
The index for ‘Minerals’ group rose by 0.3 percent to 347.0 from 346.1 for the previous month.
Fuel & power declined by 0.3 percent to 214.0 from 214.7 for the previous month due to lower price of petrol and furnace oil.
However, the price of high speed diesel (1%) moved up.
Non-Metallic Mineral Products rose by 0.8 percent to 169.5 from 168.1.
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