India’s annual rate of inflation, based on monthly wholesale price index (WPI), declined further to 12.41 percent (provisional) in August 2022, over August 2021. After increasing to a record 15.88 percent in May, WPI inflation eased to 13.93 percent in July. The month-on-month change in WPI index for August 2022 stood at -0.46 percent.
“Inflation in August 2022 is primarily contributed by rise in prices of mineral oils, food articles, crude petroleum & natural gas, basic metals, chemicals & chemical products, electricity, food products etc, as compared to the corresponding month of the previous year,” the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and industry, said.
The official WPI for all commodities (Base: 2011-12 = 100) for the month of August 2022 was 153.1 compared to previous month’s 153.8.
The index for manufactured products (weight 64.23 percent) for August 2022 increased to 143.2 from 143.1 for the month of July 2022. However, the index for ‘Manufacture of Textiles’ sub-group decreased to 146.4 from previous month’s 147.2. On the other hand, the index for ‘Manufacture of Wearing Apparel’ rose to 148.6 from previous month’s 147.3.
The index for primary articles (weight 22.62 percent) also increased to 178.6 in August 2022 from previous month’s 177.5, while the index for fuel and power (weight 13.15 percent) decreased to 157.6 from 165.6 in July 2022.
Meanwhile, the all-India inflation rate for consumer price index (CPI) on base 2012=100 stood at 7.00 (provisional) in August 2022 compared to 6.71 (final) in July 2022 and 5.30 in August 2021, according to the National Statistics Office, under the Ministry of statistics and programme implementation.