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economy | IST

Wholesale inflation falls to 4.53% in August

India's wholesale price index (WPI) based inflation fell to a 4-month low of 4.53 percent in August 2018 as against 5.09 percent of July 2018, due to a fall in food and non-food prices.
Wholesale inflation in food fell to a negative 2.25 percent as against a negative 0.86 percent in July 2018. WPI inflation in primary articles also fell to a negative 0.15 percent versus 1.73 percent in the previous month.
The non-food articles inflation stood at 3.48 percent in August 2018, compared to 3.96 percent in the previous month.
The Ministry of Commerce and Industry revised the wholesale inflation data for June 2018 to 5.68 percent from 5.77 percent.
Data released by the government showed fuel and power inflation fell to 17.73 percent as against 18.10 percent in July 2018.
Experts said that the softening in the fuel power inflation could be offset by a depreciating rupee and higher crude prices.
International Brent crude oil is up 0.4 percent, trading at $78.48 per barrel. The rupee, on the other hand, recovered on Friday to value at 71.81 against the US dollar. The currency had slumped to a record low of 72.91 per dollar on Wednesday, before settling at 72.19 per greenback.
The consumer price index (CPI) inflation rate for August 2018 stood at 43.69 percent against July’s 4.17 percent.
Analysts on an average expected the wholesale inflation to be in the range of 4.4 to 4.8 percent, softening on a month-on-month basis led by lower food prices, decline in industrial metal prices.