Wholesale prices rose 0.16 per cent in August as against deflation of 0.58 per cent in the previous month, official data released by Ministry of Commerce & Industry showed on Monday. Food price index rose the most, with an advance of 4.07 per cent. While the index of fuel and power prices slumped 9.68 per cent in August.
WPI inflation in June was at (-) 1.81 per cent, while for the month of May and April it was (-) 3.37 per cent and (-) 1.57 per cent respectively. August marked the first month wherein wholesale prices saw an upward tick.
Prices of manufactured products, which has the highest weightage in the overall Wholesale Price Index (WPI), rose 1.27 per cent from 0.51 per cent in July.
“The Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group have increased from 152.0 in July, 2020 to 153.3 in August, 2020. The annual rate of inflation based on WPI Food Index decreased from 4.32% in July, 2020 to 4.07% in August, 2020,” Ministry of Commerce & Industry said in a statement.