x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   In the Shadows of Raja: “Bou Buttu Bhuta” Redefines Odia Cinema with Spectral Allegory of Rural Struggle | The role of the Anganwadi worker has evolved in tandem | Mental rabies means distance from humans, closeness with dogs | Today, Students must be Empowered to Choose not just what is “Safe,” | Sainik Sahayta Kendra | Under PM Modi’s leadership, J&K emerging as education, innovation hub: LG Sinha | Statehood to J&K: Cong mobilizing support of all 233 opposition Lok Sabha members to mount pressure | Kavinder Gupta assumes charge as Ladakh LG | ‘Want Ladakh to be recognised top tourism destination’ | DGP Prabhat reviews Bhadarwah security | CM Omar interacts with citizens at Raabita office in Srinagar | US designates LeT proxy TRF responsible for Pahalgam attack as terrorist organisation | Fresh batch of over 7,900 pilgrims leaves for holy cave shrine | Ahead of ‘Monsoon Session,’ Rajnath, Shah discuss ‘Operation Sindoor’ with NSA, tri-service chiefs | Truck hits car carrying Amarnath pilgrims, 8 injured | Man killed in Kathua accident | Traffic management committee | ACB arrests JDA official for accepting bribe | IT Deptt enables online utility for ITR-2 filing | CISF achieves record medal haul in 2024-25 | Jammu admin disburses Rs 24. 60 lakh compensation in 1 month | ZPHQ Jammu organises farewell ceremony | Janipur police nabs drug peddler wit 5 grams of heroin substance | Farooq hails Congress for taking up J&K statehood issue | CM Yogi's water conservation drive yields remarkable results in UP | DB upheld acquittal of KZF members | ADGP Armed felicitated DySP (Retd) Surjeet Choudhary | 75th anniversary of NSSO celebrated in Jammu | Dr Andrabi visits Eidgah Srinagar, meets youth delegations | Every disaster a lesson to learn from: CS | Doda police traced out missing lady and re-united with her family | Ramban police organized 'BHAROSA' awareness programmes | Improving infrastructure in lord Krishna's land is priority: Hema Malini | YRS will announce president after 23rd September celebration | APS Akhnoor hosts inspiring felicitation ceremony | Fake social media accounts being used to spark caste tensions, says CM Yogi Adityanath | Kathua police arrests absconder evading arrest | JKAACL organizes plantation campaign | The World Stands with Bharat, A Resounding Blow to Pakistan-Backed Terrorism: Gaurav | CS to kick start Vicharnag Temple renovation work today | NC workers join SBSP | Central University of Jammu organizes "Thursday Mind Meet" | Jammu police gifts selfie point to Akhnoor after national recognition | SKUAST-Jammu organizes ZREAC Kharif meeting | LPU inaugurates Real-World Tech Workplaces at Campus with Capgemini Code Experience Lab | DDC Kathua approves Rs 74.52 Cr District Capex Budget for FY 2025-26 | Bovine smuggling bid foiled by Doda police | First meeting of the 56th IFFI steering committee held in Mumbai | Inter-Nursing College Poster Competition held | Akhnnor Sports Club honours badminton players | India U-31 team wins bronze, U-16 finishes fourth in World Youth Team Bridge Championships | World Women's Chess Cup: All four Indians to play tie-breaks | Jadeja's "incredible fight" at Lord's Test earns him Team India's MVP tag | Free entry for Durand Cup at Jamshedpur | Didn't know that a national women's football team existed when I started out: Aditi Chauhan | 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