The inflation based on wholesale price index (WPI) of India has almost doubled to 3.24 percent in August.

According to the figures released by the Ministry of Commerce and Industry, wholesale inflation was 1.88 per cent in July, compared to 1.09 per cent in August 2016.

According to the ministry, "The wholesale inflation rate for August 2017 is 3.24 percent, while in July it was 1.88 percent and in August 2016 it was 1.09 percent. Inflation in this financial year has been 1.41 percent, compared to 3.25 percent in the same period last year.''

Food inflation has increased to 5.75 per cent, while in July 2017 it was 2.15 per cent.

Onion prices increased by 88.46 per cent on annual basis, while potato prices were negative at 43.82 per cent.

In August, the prices of vegetables increased by 44.91 per cent, while in August 2016 it was negative 7.75 per cent.

Wheat became cheaper on an annual basis. Its rate is negative at 1.44 percent, while protein-based food products have become expensive, eggs, meat and fish. It has increased to 3.93 per cent.

The price of fuel and electricity has also increased to 9.99.

Recently the data came that retail inflation has risen to a five-month high of 3.36 per cent in August.

The retail inflation rate for the previous month is the highest after March 2017. At that time it was 3.89 percent.

According to the data released by the Central Statistics Office in India, the inflation rate for fruits and vegetables consumed daily during the month increased to 5.29 percent and 6.16 percent respectively. It was 2.83 percent in July and 3.57 percent below zero.

Similarly, inflation in food, refreshments and sweets increased to 1.96 per cent in August, which was 0.43 per cent in July.

In the transportation and communication sectors, inflation has also increased to 3.71 percent, which was 1.76 percent in July.

However, some of the thick grains, meat, fish, oil and fat prices have been claimed to be lower.

(Click here for Android APP of IBTN. You can follow us on facebook and Twitter)

Share This News

About sharing