On September 14, the Indian government unveiled the Wholesale Price Index (WPI) data for the month of August, revealing a persistent trend of declining wholesale inflation. In August, the wholesale inflation rate plummeted to -0.52 percent, marking the fifth consecutive month in which it has remained in the negative territory. Notably, in July, the wholesale inflation rate had been -1.36 percent, and in June, it had reached as low as -4.12 percent.
The Wholesale Price Index, or WPI, serves as a crucial indicator that measures the fluctuations in prices of goods traded and sold in bulk by wholesale businesses to other companies. Unlike the Consumer Price Index (CPI), which tracks prices of goods and services directly purchased by consumers, the WPI focuses on factory gate prices before they reach the retail level.
The government attributed the persistently negative inflation rate to a range of factors, including the decline in prices of mineral oils, basic metals, chemical and chemical products, textiles, and food products when compared to the corresponding month of the previous year.
Primary Articles:
Fuel & Power:
Manufactured Products:
Food Index:
The core inflation rate, a key indicator, remained unchanged in August, holding at -2.2 percent.
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