India's WPI inflation drops to 1.31% in August 2024

The month over month change in WPI for the month of August 2024 stood at (-) 0.45 per cent as compared to July 2024

“Positive rate of inflation in August 2024 is primarily due to increase in prices of food articles, processed food products, other manufacturing, manufacture of textiles and manufacture of machinery and equipment etc,” the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT), under the ministry of commerce and industry, said.

The official WPI for all commodities (Base: 2011-12 = 100) for the month of August 2024 decreased to 154.5 from the previous month’s 155.2.

The index for manufactured products (weight 64.23 per cent) for August 2024 dropped slightly to 141.6 from 141.7 in July 2024. The index for ‘Manufacture of Textiles’ sub-group decreased slightly to 136.5 in August from 136.7 in July, while the index for ‘Manufacture of Wearing Apparel’ increased slightly to 152.8 from 152.1 in July.

The index for primary articles (weight 22.62 per cent) declined by 1.37 per cent to 194.9 in August from 197.6 for the month of July 2024, while that for fuel and power (weight 13.15 per cent) increased by 0.14 per cent to 148.1 in August from 147.9 for the month of July 2024.

Fibre2Fashion News Desk (KD)