x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   HM Shah tours flood-hit Jammu, assures full support for rehabilitation | Schools to remain closed today | Flash floods damage border grid; security forces on high alert | Shah chairs high-level meeting reviews relief measures | PM Modi, HM Shah will ensure all help : LG Sinha | Jmu-Sgr highway restored partially | Pahalgam terror attack assault on India’s conscience: PM Modi at SCO | 190 houses damaged in Aug 26 cloudburst in Warwan Valley | Army foils infiltration bid in Poonch | Amit Shah praises security forces for smooth conduct of Amarnath Yatra | Dr Singla assigned additional charge of Administrative Secretary, Information Department | Gold prices on rise | ATF price cut, commercial LPG rate down | Majeeb-Ur-Rehman promoted | National Nutrition Week: A Call to Embrace Millets for a Healthier India | The classroom bell no longer signals the end of School Day in India’s | India-China’s Sweetened Relations Herald a New World Order | Amit Shah’s Reassurance | Rain hit Jammu looks forward to tangible relief package during Union Home Minister's visit: Sadhotra | Kunwrani Ritu Singh felicitated at Bharat Global Industries forum | LED screens allotted for advertising in Katra / Amritsar Vande Bharat train | Meeting of the general body of Bharatiya Dalit Sahitya Akademy - J&K | Jammu police arrested drug peddler heroin (Chita) seized | Sakeena Itoo reviews Academic, Administrative functioning of BGSBU | 5 drug peddlers held in Baramulla, Kulgam districts | Pipping ceremony held at district police office Ramban | Div Com Kashmir reviews status of Srinagar Smart City projects | Shamsher Hakla Poonchi welcomes appointment of CEO Poonch | Abhay Mahajan lauds PM Modi's strong message at SCO | DB seeks action plan on Wular, Surinsar-Mansar and Ladakh lakes | New Bongaigaon Workshop of NFR achieves Multiple Milestones during August, 2025 | CM Yogi holds 'Janata Darshan', directs prompt action on public grievances | CM Yogi calls for simplified, humane rules on premature release of seriously ill prisoners | PM Modi achieved another milestone with 125th episode of 'Mann Ki Baat' : Balbir | PM Modi strengthening international cooperation like never before: Rekha Mahajan | Drug peddler nabbed by police station Bahu | Notorious drug peddler booked under PIT NDPS by Billawar | Shri Guru Ravi Dass Sabha Bahu Fort Jammu celebrated birth anniversary of Periyar Lalai Singh Yadav | Gurugram: Two who provided weapons to criminals who attacked Fazilpuria arrested | Udhampur police's crackdown on drugs | Fire and fury corps celebrates 26th Raising Day | One month internship program of GDC Kathua concludes | Entire Himachal declared disaster-hit, 10,000 Manimahesh yatris rescued: CM Sukhu | Udhampur Police Cyber Cell recovers, refunds Rs 7.17 Lakh to Cyber fraud victims | Jammu Police nabs absconder evading arrest since long | Rs 35 lakh earned in Jammu Division through ticket checking | Javed Ahmad Rana committed to compensate them adequately | Strong voices unite at AIIMS Jammu to address violence against healthcare workers | PLW observes Swachhata Pakhwada, Special Campaign 5.0 with full enthusiasm | Ashwin in talks with ILT20 organisers for registering his name in auctions: Reports | Teen Indian player Maaya Rajeshwaran enters US Open junior singles 2nd round | Women's WC champs to get nearly Rs 40 cr pay cheque, biggest ever in tournament's history | We are working closely with BCCI, KSCA to design better crowd management protocols: RCB | Mahanaryaman Scindia elected youngest president of MP Cricket Association | Back Issues  
 
news details
Wholesale inflation at 4-month low of 1.31% in Aug
9/17/2024 11:06:03 PM

New Delhi, Sep 17:
Agencies

Wholesale inflation fell to a 4-month low of 1.31 per cent in August due to a decline in prices of vegetables and fuel, even though onion and potato prices spiked, according to official data released on Tuesday.
Wholesale price index-based inflation fell for the second straight month in August after it hit a high of 3.43 per cent in May. Inflation in July was 2.04 per cent. In August last year, WPI inflation was (-) 0.46 per cent.
“Positive rate of inflation in August 2024 is primarily due to an increase in prices of food articles, processed food products, other manufacturing, manufacture of textiles and manufacture of machinery & equipment etc,” the Commerce and Industry Ministry said in a statement.
Inflation in food items was 3.11 per cent in August against 3.45 per cent in July. This was led by declining prices of vegetables, which dropped 10.01 per cent in August.
Inflation in potatoes and onions continued to be high at 77.96 per cent and 65.75 per cent, respectively, in August.
Barclays in a note said the slowing in August WPI was driven by a sequential decline in food (vegetable) prices. The continued climb in non-perishable food prices needs to be watched.
ICRA Senior Economist Rahul Agrawal said while Kharif sowing has been healthy so far, the surplus rainfall in the ongoing month can potentially delay the Kharif harvesting and/or impact such yields, even as reasonably healthy reservoir storage at pan-India level is likely to boost the sowing of rabi crops.
“The WPI inflation eased to a four-month low of 1.3 per cent in August 2024, with the fuel and power, core (non-food manufacturing), and crude petroleum a
Wholesale inflation fell to a 4-month low of 1.31 per cent in August due to a decline in prices of vegetables and fuel.
Inflation in potatoes and onions continued to be high at 77.96 per cent and 65.75 per cent, respectively, in August.
Barclays in a note said the slowing in August WPI was driven by a sequential decline in food (vegetable) prices.
The continued climb in non-perishable food prices needs to be watched.
d natural gas sub-groups together pulling down the headline WPI print by as much as 70 bps in the month vis-à-vis July 2024,” Agrawal said.
Barclays said lower manufactured costs owing to the fall in energy and metal prices reduce the risk of spillover to core consumer price inflation.
Inflation in manufactured products was 1.22 per cent in August.
The fuel and power category witnessed deflation of 0.67 per cent in August against inflation of 1.72 per cent in July.
ICRA said global commodity prices have remained benign through September 2024 so far, which is likely to contain the sequential momentum in the non-food WPI.
Additionally, the price of the Indian basket of crude oil has averaged 6 per cent lower in September 2024 on a sequential basis, while touching the lowest levels in 33 months, which would also help contain the uptick in the headline WPI inflation print in the month.
Overall, ICRA expects the WPI inflation to rise to 2 per cent in September 2024 from 1.3 per cent in August.
Data released last week showed retail inflation was at 3.65 per cent in August on higher prices of vegetables. This was higher than 3.60 per cent in July.
“Given the slight acceleration in the August CPI inflation, we think the RBI is likely to remain on a cautious hold at the October meeting and assess the impact of the monsoon on food prices, before considering monetary easing. We expect rate cuts to begin in December 2024,” Barclays said.
The Reserve Bank of India (RBI), which mainly takes into account retail inflation while framing monetary policy, kept the benchmark interest rate or repo rate unchanged for the ninth consecutive time in August at 6.5 per cent.
  Share This News with Your Friends on Social Network  
  Comment on this Story  
 
 
 
Early Times Android App
STOCK UPDATE
  
BSE Sensex
NSE Nifty
 
CRICKET UPDATE
 
 
 
 
 
 
 
 
   
Home About Us Top Stories Local News National News Sports News Opinion Editorial ET Cetra Advertise with Us ET E-paper
 
 
J&K RELATED WEBSITES
J&K Govt. Official website
Jammu Kashmir Tourism
JKTDC
Mata Vaishnodevi Shrine Board
Shri Amarnath Ji Shrine Board
Shri Shiv Khori Shrine Board
UTILITY
Train Enquiry
IRCTC
Matavaishnodevi
BSNL
Jammu Kashmir Bank
State Bank of India
PUBLIC INTEREST
Passport Department
Income Tax Department
JK CAMPA
JK GAD
IT Education
Web Site Design Services
EDUCATION
Jammu University
Jammu University Results
JKBOSE
Kashmir University
IGNOU Jammu Center
SMVDU