India’s wholesale price inflation edged up to 1.31% in August 2024 compared to the same month last year. This modest increase, based on the Wholesale Price Index (WPI), was primarily driven by rising prices in food articles, processed food products, textiles, machinery, and other manufactured goods. However, the month-over-month change in WPI for August was negative at -0.45% compared to July 2024.
Let’s delve deeper into the WPI data for August:
The WPI Food Index, encompassing both food articles and food products, also showed a slight decrease from July to August 2024, leading to a lower annual inflation rate for food items.
This table summarises the key takeaways from the WPI data for August 2024. It highlights the weight of each major category in the WPI calculation and the direction and magnitude of their price changes compared to July 2024.
Category | Weight | Change in Index (%) |
Primary Articles | 22.62 | -1.37 |
Fuel and Power | 13.15 | 0.14 |
Manufactured Products | 64.23 | -0.07 |
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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