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Bit of price comfort

New Delhi, Aug. 14: Inflation, based on the wholesale price index, eased to a five-month low of 5.19 per cent in July from 5.43 per cent in June on account of a decline in fuel prices, though rising costs of vegetables and fruits remain a concern.

Food inflation during the month accelerated to 8.43 per cent from 8.14 per cent a month ago. Inflation in vegetables declined 1.27 per cent. Onion prices fell 8.13 per cent year-on-year. Potato prices shot up 46.41 per cent and fruits by 31.71 per cent.

Data released earlier this week showed consumer price inflation (CPI) quickening to a 2-month high of 7.96 per cent in July from 7.46 per cent in June because of an increase in the prices of vegetables, fruits and beverages.

Anis Chakravarty, senior director at Deloitte in India, said, “The latest data show an anomaly wherein CPI has risen but WPI has eased. This decline in WPI has largely been because of the moderation in fuel prices. The latest data has reconfirmed that the current levels of inflation are largely food and retail driven.”

 
 
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