WPI inflation rises 0.16%, after being in negative territory from April-July

The Wholesale Price Index-based (WPI) inflation rose 0.16% in August, after remaining in the negative territory for four straight months, PTI reported.

The WPI-based inflation stood at -1.57% in April, -3.37% in May, -1.81% in June and -0.58% in July.

“The annual rate of inflation, based on monthly WPI, stood at (0.16%) (provisional) for the month of August, 2020 (over August, 2019) as compared to 1.17% during the corresponding month of the previous year,” the Union Commerce and Industry Ministry said in a statement on Monday. 

Inflation was registered in the previous month as food items and manufactured products turned costlier.

While inflation for food products stood at 3.84%, the same for manufactured products was 0.51% in August.

Inflation in vegetables stood at 7.03%, in which potato saw a price rise of 82.93%. Inflation in onion was -34.48%.

Fuel and power inflation fell 9.68% in August, as against 9.84% in the previous month.

The Reserve Bank of India (RBI) in its policy review last month kept interest rates unchanged and said it sees an upside risk to inflation. The apex bank projected retention of inflation to moderate in October-March period.