India’s inflation based on wholesale price index (WPI) remained in the negative territory for the fifth straight month in August 2023 at (-) 0.52% as against (-) 1.36% recorded in July 2023. The negative rate of inflation in August is primarily due to fall in prices food products.
The Component wise, primary articles index, having weight of 22.62%, declined 0.47% to 189.6 (provisional) in August 2023 from 190.5 (provisional) for the month of July 2023, on the back of fall in prices of Food Articles. However, Prices of Crude Petroleum & Natural Gas, Minerals and Non-food Articles increased in August 2023 as compared to July 2023.
Fuel & Power index, having weight of 13.15%, increased 2.96% to 149.6 (provisional) in August 2023 from 145.3 (provisional) for the month of July 2023, as prices of mineral oils and electricity increased in August 2023 as compared to July 2023.
Besides, Manufactured Products constituting the major portion of the index with weight of 64.23%, increased by 0.14% to 139.8 (provisional) in August 2023 from 139.6 (provisional) for the month of July 2023. Meanwhile, for the month of June, 2023 the final Wholesale Price Index and inflation rate for 'All Commodities' (Base: 2011-12=100) stood at 148.9 and (-) 4.18% respectively.
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