Wholesale price inflation in August marginally rises to 11.39%
The wholesale price inflation marginally rose to 11.39 per cent in August from the previous month’s 11.16 per cent because of an increase in the cost of fuel and manufactured items, government data showed. The high inflation rate in August was largely because of the low base effect as inflation in August 2020 was 0.41 per cent.
Fuel and power prices rose 26.09 per cent in August year-on-year compared with 26.02 per cent in July, while manufactured product prices rose 11.39 per cent compared with 11.20 per cent in the previous month.
However, wholesale prices of food rose at a slower pace of 3.43 per cent in August compared with 4.46 per cent in the previous month.
“The high rate 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 ,” the commerce ministry said.