x

Like our Facebook Page

   
Early Times Newspaper Jammu, Leading Newspaper Jammu
 
Breaking News :   CBC Jammu organises workshop to promote Rajbhasha | Dy CM pays surprise visit to govt offices | Kavinder slams NC Govt over unscheduled power cuts | Steps taken to thwart cross-border cyberattacks on official portals | Searches continue in Kishtwar | ‘Operation Sindoor’ exposed bonding between terrorists and Pak Army: Amit Shah | High Court upholds PSA of Lakhvi’s woman aide | Reasi police nabs two with heroin in anti-drug crackdown | Will take up relief for Pak shelling victims with Centre: CM Omar | Police Station Peermitha, Jammu crack cremation ground theft case, accused arrested | Convenes public outreach programme | SIA Jammu strikes at terror sleeper cells | Major healthcare upgrades coming across J&K: Sakeena Itoo | Crime Branch arrests history-sheeter Govt teacher | EC allows booths to distribute unofficial voter slips | Wreath-laying ceremony held for martyr soldier | Court awards 1 yr imprisonment, fine to Matador driver for causing death to a person | Northeast witnessing unprecedented growth: PM Modi | Politics over patriotism and nation's unity won't be tolerated: NC to BJP | Ravichandran gets extension | Vacation Judge roster modified | Equitable Society | JKHCBAJ holds Tiranga Rally to honour security forces' valor in Operation Sindoor | DUDA Udhampur hosts 'Ek Ped Maa Ke Naam' event | Adhivakta Samvaad Unites Legal Minds at Desh Bhagat University | DMC&H alumnus performs world's first human bladder transplant | KVK Poonch concludes 15 days certificate course on INM | District Level Committee reviews provision of civic amenities | Bovine smuggling bid foiled in Billawar, six animals rescued | SJVN Signs Power Sale Agreement with DVC for Arun-III HEP | Inter-Zonal District Level Sports Competitions begin in Jammu | Curtain raiser held for "Veeron Ki Vaatika - Wall of Fame" | Curtain raiser held for "Veeron Ki Vaatika - Wall of Fame" | Govt GLDM Degree College, successfully culminated VermiComposting project | GDCW Kathua organises motivational function | Ophthalmic practice on asthenopia held at GDC RS Pura | GGM Science College Faculty Participates in "Pathways to Nature" Workshop | 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