NEW DELHI, Sept. 14 (Xinhua) -- India's wholesale price index (WPI) eased to 12.41 percent in August, the federal ministry of commerce and industry said on Wednesday.
"The annual rate of inflation based on All India Wholesale Price Index (WPI) number is 12.41 percent (provisional) for the month of August, 2022 (over August, 2021). WPI-based inflation was 13.93 percent in July 2022," the ministry said in a statement.
"Inflation in August, 2022 is primarily contributed by rise in prices of mineral oils, food articles, crude petroleum and natural gas, basic metals, chemicals and chemical products, electricity, food products etc., as compared to the corresponding month of the previous year," the statement said.
According to the ministry, the month over month change in WPI index for August registered a reduction of 0.46 percent as compared to July.
WPI inflation, an indicator of prices in the wholesale market, rises or falls mainly due to steep increase or decrease in commodity prices globally. ■