Economy

WPI inflation records four month high with 3.24pct

WPI inflation records four month high with 3.24pct”

Wholesale prices climbed 3.24 percent year-over-year in August, faster than the 1.88 percent rise in July.

Wholesale prices rose 3.24 percent in August from a year earlier, the Commerce Ministry said in a statement on Thursday. That was nearly in line with the 3.20 percent increase economists had forecast.

WPI Inflation grew sharply to 1.88% in the month of July 2017 - which was first rise in five months, compared to 0.9% in June 2017 and 0.63% in July 2016.

Food inflation came at 5.75% in August against 2.15% in the previous month.

The official WPI for all commodities (Base: 2011-12 = 100) for the month of August, 2017 rose by 0.8 per cent to 114.8 from 113.9 for the previous month, according to the provisional data released by the Office of the Economic Adviser, ministry of commerce and industry.

Prices for non-food articles came at negative 3.60% in August compared with 6.32% lower in the last month.

Wholesale inflation eased for the third straight month as it fell to 3.15 per cent in November after subdued demand due to demonetisation led to. The sub-category of manufactured food products registered a rise of 1.84 per cent.

The index for "Non-Food Articles" group rose by 1.8 percent due to higher price of floriculture (25 percent), copra (coconut) (23 percent), guar seed (eight percent), safflower (kardi seed) (four percent), castor seed (three percent), gingelly seed, rape and mustard seed and raw wool (two percent each).



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