September 27, 2022
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WPI inflation dips in Aug to 11-month low of 12.4%

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NEW DELHI: Wholesale value inflation moderated to an 11-month low in August on the again of easing costs of gasoline and energy, manufactured meals and non-food objects however remained in double digits for seventeenth month in a row.
The info launched by the ministry of commerce and business on Wednesday confirmed inflation, as measured by the Wholesale Worth Index (WPI), rose an annual 12.4% in August, decrease than the earlier month’s 13.9%. Inflation throughout the month was largely pushed by rise in costs of mineral oils, meals articles, crude petroleum and pure gasoline, primary metals, chemical compounds and chemical merchandise, electrical energy, meals merchandise.
Meals inflation rose to 9.9% in August from a three-month low of 9.4% in July.

food prices (1)

“The current moderation in WPI inflation has largely been pushed by a correction in world commodity costs following fears of a world slowdown and the reimposition of Covid restrictions in China,” mentioned Aditi Nayar, chief economist at scores company ICRA.

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