Financial News: India Wholesale Price Inflation Eases To 1.31%, Lowest

India Wholesale Price Inflation Eases To 1.31%, Lowest In 4 Months

09/17/2024 - 03:25:00 (RTTNews)

(RTTNews) - India's wholesale price inflation softened more-than-expected in August to the lowest level in four months, provisional data from the Ministry of Commerce and Industry revealed on Tuesday.

The wholesale price index, or WPI, rose 1.31 percent year-over-year in August, slower than the 2.04 percent increase in July. Economists had expected inflation to ease to 1.80 percent.

Prices for primary articles grew at a slower pace of 2.42 percent in August versus a 3.08 percent gain in the prior month. Similarly, the yearly price growth in the food index moderated to 3.26 percent from 3.55 percent.

Costs for manufactured products climbed 1.22 percent after a 1.58 percent increase in the preceding month. Meanwhile, costs for fuel and power were down 0.67 percent.

On a monthly basis, wholesale prices dropped 0.45 percent from July, when they increased by 0.78 percent.

Data released last week showed that India's consumer price inflation rose marginally to 3.65 percent in August from 3.60 percent in July. Nonetheless, consumer price inflation continued to remain within the lower band of the 2-6 percent target.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

U.S. Consumer Sentiment Index Unexpectedly Decreases In October (06 hr(s), 30 min(s), 11 sec(s) ago)
(RTTNews) - A report released by the University of Michigan on Friday showed an unexpected deterio ...Full Story»

U.S. Producer Prices Unexpectedly Flat In September, Annual Growth Slows Modestly (06 hr(s), 54 min(s), 11 sec(s) ago)
(RTTNews) - With a decrease in prices for goods offsetting an increase in prices for services, the ...Full Story»

U.S. Producer Prices Unexpectedly Unchanged In September (08 hr(s), 39 min(s), 11 sec(s) ago)
(RTTNews) - With a decrease in prices for goods offsetting an increase in prices for services, the ...Full Story»

India Industrial Output Shrinks 0.1% In August (08 hr(s), 42 min(s), 11 sec(s) ago)
(RTTNews) - India's industrial production declined slightly in August, largely led by weaker m ...Full Story»

Turkey Retail Sales Growth Strongest In 5 Months (11 hr(s), 36 min(s), 11 sec(s) ago)
(RTTNews) - Turkey's retail sales increased at the quickest pace in five months in August, the ...Full Story»

Romania Inflation Eases To 4.6%, Lowest In Over 3 Years (12 hr(s), 30 min(s), 11 sec(s) ago)
(RTTNews) - Romania's consumer price inflation moderated further in September to the lowest le ...Full Story»

UK Economy Returns To Growth (12 hr(s), 51 min(s), 11 sec(s) ago)
(RTTNews) - The UK economy returned to growth in August but the pace of expansion was weaker than ...Full Story»

Swiss Consumers Less Pessimistic In September (13 hr(s), 13 min(s), 11 sec(s) ago)
(RTTNews) - Confidence among Swiss consumers remained less negative in August, survey results from ...Full Story»