This article was last updated on April 16, 2022
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This Monday brought good news for all Indians as it was revealed that the decline in prices of vegetable and other food articles pulled down the wholesale inflation sharply to 3.74% in August to a nearly five-year low. The inflation measured on the Wholesale Price Index (WPI) was at 5.19% in July and 6.99% in August 2013.
The inflation on food items saw a significant decline to 5.15% in August as against 8.43% in July, according to the official data released in Delhi today. The August WPI inflation is the lowest since October 2009 when it stood at 1.8%. Vegetable prices contracted 4.88%, the third continuous month of decline. The downward trend also continues for onion prices which contracted by 44.7% during the month of August. However, potato prices were on the rise as inflation in the kitchen essential jumped to 61.61% from 46.41% in July. Inflation in the fruits basket eased to 20.31% in August.
While prices of protein rich items like egg, meat and fish contracted during the month, inflation in milk and pulses inched up to 12.18% and 7.81%, respectively, as compared to July. The August retail inflation too eased to 7.8% compared to 7.96% in July. The wholesale WPI data further revealed that the price rise in manufactured goods, like sugar and edible oils too eased to 3.45% in August, while it was 3.67% in July. Inflation in the fuel and power segment which include LPG, petrol and diesel declined to 4.54% as compared to price rise of 7.40% seen in July according to Hindustan Times.
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