India’s WPI Inflation 1.08 Percent in August 2019
The Wholesale Price Index (WPI) Rate for the month of August 2019, was released few days ago. India’s WPI Inflation was said as 1.08 Percent in the last month. There is no change, as the same numbers were available earlier in July 2019.
On October 2018, the Wholesale Price Index was seen as 5.54 Percent, which is the highest rate in the last one year. The Currently said 1.08 Percent was seen as the lowest rate in the 24 Months.
The Low inflation was seen due to the fallen in Fuel Prices. At the same time, the Food Prices have risen slightly. There has been no change in the Clothing, but the prices of Chemicals, Rubber, Plastics and Basic Metals have come down in the month of August 2019.
The Price of Wood Products were also fell in the Last month. But the Essential Food Products and Vegetables Prices were increased in the said period. At the same time, the Price of Potato has come down.
Wholesale Prices of Fuel Products like Petrol, Diesel and including Cooking Gas were also fell 4 Percent in August 2019. It is noteworthy that the WPI Inflation in India averaged about 7 Percent over the Past 50 Years.
The Maximum was 35 Percent in September, 1974 and the lowest rate is (-11.31) Percent which was seen in May, 1976. The Consumer Price Index (CPI) Inflation Rate in August 2019 was 3.21 Percent. CPI Inflation rate remained below the RBI’s Medium term Target of 4 Percent.
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