Friday, September 15, 2023

5th consecutive month of negative WPI inflation


NEW DELHI: Discount cost expansion stayed in the negative zone for the fifth month straight in August, generally drove by emptying in fuel, power and made item sections however food expansion stayed in twofold digits.

Information delivered by the trade and industry service on Thursday showed expansion, as estimated by the Discount Value File (WPI), contracted 0.5%, smaller than the 1.4% drop in July. The negative pace of expansion in August, 2023 is essentially because of fall in costs of mineral oils, fundamental metals, synthetics, materials and food items when contrasted with the comparing month of earlier year, as per the assertion.

Food expansion was at 10.6% during the month. Onion prices increased by 31.4% annually, while vegetable prices increased by 48.4% annually. Beats expansion was at 10.5% during the month.

In August, manufactured goods fell 2.4% while fuel and power fell 6%. With the backing of high base blurring, some increase in WPI expansion should have been visible in the final part," said Rajani Sinha, boss financial analyst at appraisals organization CareEdge.

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