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WPI inflation rises to 11.39% in August on costlier manufacturing items; meals costs soften – Occasions of India

NEW DELHI: The wholesale price-based inflation (WPI) rose marginally to 11.39 per cent in August, primarily resulting from larger costs of manufactured items, at the same time as costs of meals articles softened.
Snapping the two-month easing development, WPI inflation rose in August and remained in double-digit for the fifth consecutive month. In July 2021, WPI inflation stood at 11.16 per cent.
In August 2020, WPI inflation was at 0.41 per cent.
“The high rate of inflation in August 2021 is primarily due to rise in prices of non-food articles, mineral oils; crude petroleum and natural gas; manufactured products like basic metals; food products; textiles; chemicals and chemical products etc as compared the corresponding month of the previous year,” the commerce and business ministry mentioned in a press release.
Inflation in meals articles eased for the fourth straight month, recording (-) 1.29 per cent in August, from zero per cent in July, at the same time as onion and pulses costs spiked. Inflation in onions was excessive at 62.78 per cent, whereas that in pulses was 9.41 per cent. In greens it was (-) 13.30 per cent in August.
Inflation in crude petroleum and pure gasoline was 40.03 per cent in August.
In manufactured merchandise, inflation stood at 11.39 per cent in August, towards 11.20 per cent in July.
The RBI, which primarily takes into consideration retail inflation, in its financial coverage final month saved rates of interest unchanged at report lows. It projected CPI or retail inflation at 5.7 per cent throughout 2021-22, up from its earlier projection of 5.1 per cent.
Knowledge launched on Monday confirmed that retail inflation softened to a four-month low of 5.3 per cent in August, from 5.59 per cent within the earlier month, led by subdued costs of meals articles.

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