Wholesale inflation eased in India
reported by %20%0A
after Bharatiya Party
The country’s central bank, which largely monitors retail inflation numbers to decide its monetary policy, is expected to review the rate Repoy to maintain its standard.
While wholesale inflation eased, prices of staple foods such as potatoes, onions and fruit rose between 16 and 78 percent in August from a year earlier, data showed on Tuesday. This increase is due to climatic conditions such as heavy rains in some regions of the country.
In general, food prices have increased by 3.26 percent compared to the same period of the previous year, while in the previous month this increase was equal to 3.55 percent. The price of grain has increased by 8.44% compared to last year, while it has increased by 8.96% in July.
Rahul Agrawal, rating agency economist Heavy rains in September could delay planting of the next crop and weigh on next month’s core inflation, ICRA said. ICRA expects wholesale inflation to rise to 2% in September. However, with the improvement in market supply, vegetable prices fell by 8.93 percent in July from 10.01 percent a year earlier.
Also, Indian manufacturing companies have grown after the fall in global commodity prices. The price of manufactured products has increased by 1.22% compared to the same period last year, compared to the 1.58% increase in the previous month. The data showed that fuel and power prices fell by 0.67 percent year-on-year, compared to a 1.72 percent increase in July.
The price of global crude oil index Brent from more than $92 per barrel in April to below $75 per barrel The barrel is ripe, which helps big importers like India. Last week, data showed India’s retail inflation remained below the central bank’s 4 percent target for the second straight month, but higher food prices dampened hopes for a dovish stance at the next monetary policy meeting.
