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India’s consumer price inflation advanced to 4.82% in August, up from 4.45% in July, according to a Monday release by the India’s Ministry of Statistics and Program Implementation, intensifying the impetus on the nation’s central bank to implement increases to key benchmark rates.
India’s food inflation advanced to 5.95% in August, increasing from 5.52% the prior month. Goods transport service inflation registered the largest increase to surpass 14% in August, while personal transport inflation rose beyond 7%, the release indicated.
The wholesale price index advanced to 9.92% in August, a move from 9.78% in July, propelled by escalating costs in food products, manufactured goods, and fuel and power.
Food inflation accelerated to 7.05% in August, compared to 6.65% in July. Within manufactured goods, the wholesale price index (WPI) registered an all-time high of 8.37%, surpassing the 8.29% figure reported in July. Inflation in the fuel and power segment, as measured by the wholesale price index (WPI), stood at 22.93%.
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