India's August WPI up at 0.16%, Riding on High Food, Fuel Prices

On sequential level, India's annual rate of inflation based on wholesale prices rose to 0.16 per cent in August from (-) 0.58 per cent in July.

New Delhi:  High food, fuel and manufactured goods’ prices accelerated India’s August wholesale inflation, official data showed on Monday. Also Read - Is Govt Planning to Impose Total Shutdown For 46 Days From September 25? Here's The Complete Truth

On sequential level, India’s annual rate of inflation based on wholesale prices rose to 0.16 per cent in August from (-) 0.58 per cent in July. Also Read - Coronavirus Second Wave: This Country Imposes Three-Week Nationwide Lockdown; Will India Follow Suit?

On a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry had risen to 1.17 per cent during the corresponding period of the previous year. Also Read - Amid Border Standoff, China Snooping on Indian Leaders Including PM, President & CJI; Govt Says 'Not Surprised'

“The annual rate of inflation, based on monthly WPI, stood at (0.16 per cent)(Provisional) for the month of August, 2020 (over August, 2019) as compared to 1.17 per cent during the corresponding month of the previous year,” the Ministry said in its review of ‘Index Numbers of Wholesale Pr ice in India’ for August.

In the notes to WPI August, the ministry said: “The WPI for August 2 020, have been compiled at a weighted response rate of 76 per cent, while the final figure for June, 2020 is based on the weighted response rate of 88 per cent.”

On a sequential basis, the expenses on primary articles, which constitute 22 .62 per cent of the WPI’s total weightage, increased 1.60 per cent from 0.63 per cent in July 2020.

Furthermore, the prices of food items remained at elevated levels with a rise of 4.07 per cent from 4.32 per cent reported for July

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