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August Wholesale Inflation Drops to 4.53% Vs 5.09% In July
India's wholesale inflation measured by wholesale price index dropped to 4.53% for the month of August as against 5.09% in July. The drop is primarily attributed to decline in food and non-food prices.
Wholesale inflation in food dropped to a -2.25% in comparison to a -0.86% in July. Primary articles WPI also headed lower at -0.15% as against 1.73% in the earlier month. The inflation in non-food articles was recorded at 3.48% vs 3.96% in July.
The wholesale inflation number for June 2018 has been revised by the ministry of commerce and industry to 5.68% from the earlier 5.77%.
Fuel and power inflation also fell in line in the month of August to 17.73% vs 18.10 in the previous month.
As per experts, if rupee and crude oil continues to face headwinds, cooling-off effect seen in fuel and power inflation could be offset.
The rupee on Friday recovered from Wednesday's record low of 72.91 per dollar and was last trading higher by 56 paise at 71.63. International brent crude oil, on the other hand was trading at $78.48 per barrel, up 0.4%.
The CPI inflation for August came in below the RBI's medium term target of 4% at 3.69% vs 4.17% recorded for July.
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