Wholesale inflation rate rises to 0.16% in August

The annual rate of inflation based on wholesale price index (WPI) increased to 0.16% in August as compared to 1.17% in the corresponding month of the previous year, the government said on Monday.

The annual rate of inflation based on wholesale price index (WPI) increased to 0.16% in August as compared to 1.17% in the corresponding month of the previous year, the government said on Monday.

It was at minus 0.58% in July, said a statement issued by the Ministry of Commerce and Industry.

The index for primary articles with a weightage of 22.62% increased by 1.81% to 146.3 in August from 143.7 in July.

Prices of minerals increased by 10.21%, crude petroleum and natural gas by 4.72%, non-food articles by 3.06% and food articles by 0.93%.

The index for fuel and power with a weightage of 13.15% increased by 0.77% to 91.4 in August from 90.7 in July.

Prices of mineral oils increased by 1.3% while prices of coal and electricity remain unchanged.

The index manufactured products with a weightage of 64.23% increased by 0.59% to 119.3 from 118.6.

Out of the 22 NIC two-digit groups for manufactured products, 11 groups that witnessed increase in prices are manufacture of food products are beverages, leather and related products, wood and of products of wood and cork, printing and reproduction of recorded media, pharmaceuticals, medicinal chemical and botanical products, basic metals, electrical equipment, machinery and equipment, and other transport equipment.

The food index with a weightage of 24.38% consisting of increased from 152 in July to 153.3 in August.

The annual rate of inflation based on the WPI food index decreased from 4.32% in July to 4.07% in August.