India’s wholesale inflation slows to 1.31% YoY in August ’24

India’s wholesale price index (WPI)-based inflation eased to 1.31 per cent year-on-year in August 2024, down from 2.04 per cent in July, due to lower prices for manufactured goods and food items. the Ministry of Commerce & Industry announced on Tuesday.

Month-over-month, WPI inflation for August decreased by 0.45 per cent compared to July. Additionally, the inflation rate based on the WPI Food Index dropped from 3.55 per cent in July to 3.26 per cent in August 2024.

Fuel and power prices saw a decline, falling to -0.67 per cent in August from 1.72 per cent in July. Meanwhile, manufactured products inflation remained relatively stable at 1.22 per cent in August 2024.

Attribution: Ministry of Commerce & Industry statement

Subediting: M. S. Salama