Wholesale inflation negative for 5th mth
Despite rising food prices, WPI-based inflation at -0.52% in Aug
New Delhi: Wholesale price inflation remained in negative territory for the fifth straight month in August at (-) 0.52 per cent, though it rose sequentially from the previous month on account of firm prices of food items, especially vegetables, onion and pulses.
The wholesale price index (WPI) based inflation rate has been in the negative since April and was (-)1.36 per cent in July. In August last year, WPI inflation was 12.48 per cent.
According to economists, fading base effects and elevated food inflation led to a (-) 0.52 per cent WPI in August, which came in higher than July numbers. Inflation in food articles remained in double digit for the second straight month at 10.60 per cent in August, lower than 14.25 per cent in July.
Wholesale inflation in vegetables was 48.69 per cent in August, against 62.12 per cent in July. In pulses, inflation was 10.45 per cent, while in onion it skyrocketed to 31.42 per cent in August.
