According to data released on Wednesday by the Ministry of Commerce & Industry, wholesale price inflation decreased even more in August, to 12.41 percent. The annual rate of the WPI adjusted for inflation was 13.93 percent in July, which was also a decrease from June's 15.18 percent.

The ministry said, price increases for mineral oils, food items, crude oil and natural gas, basic metals, chemicals and chemical products, electricity, food products, etc. increased in August 2022 compared to the same month the year before. It adds, the monthly change in the WPI index for the month of August 2022 was -0.46 percent as compared to July 2022.

Food products from the Primary Articles group and the Manufactured Products group make up the WPI food index, which rose from 174.4 in July to 176.0 in August. Based on the WPI Food Index, the inflation rate jumped from 9.41 percent in July to 9.93 percent in August.
Compared to July, the index for primary articles increased by 0.62 percent to 178.6 in August, while prices for both food and non-food items rose by 1.57 and 1.98 percent, respectively. Compared to July, prices for minerals dropped by 1.90 percent, natural gas and crude oil by 7.34 percent, and both in August. Cereals, paddy, wheat, legumes, vegetables, potatoes, onions, fruits, milk, eggs, meat, and fish are only a few examples of food items.

In August, the fuel and power index, which includes products like LPG, petroleum, and HSD, increased by decreased by 4.83 percent to 157.6 from 165.6 in July. Compared to July, the price of electricity rose by 2.85 percent in August, whilst the price of mineral oils fell by -7.79 percent.

In August, the manufactured goods index rose by 0.07 percentage points to 143.2 from 143.1 in July.

"Of the 22 two-digit NIC groups for manufactured goods, 12 groups have seen price increases, while 10 groups have seen price decreases. Other non-metallic mineral products, automobiles, trailers, and semi-trailers, electrical equipment, pharmaceuticals, medicinal chemical, and botanical products, computers, electronic devices, and optical equipment, machinery and equipment, clothing, paper, and paper products, among other items, are the main contributors to the price increase in August 2022 compared to July 2022. Food products, textiles, chemical and chemical products, rubber and plastic products, furniture, and other manufacturing, among other things, have seen price decreases in August 2022 as compared to July 2022, the ministry reported.

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