India s wholesale inflation rate in August decelerated by 0.52%, after a decline in July, according to the Department for Promotion of Industry and Internal Trade. The rate had been negative in June, May, and April. Retail inflation in August decreased to 6.83% from July s 15-month high of 7.44%, mainly due to lower vegetable prices
The rupee weakened to its lowest in nearly a month, tracking a decline in domestic stocks as inflation surged and as oil prices climbed to their highest in nearly three weeks on supply fears from the prospect of more sanctions on Russia as the crisis in Ukraine deepens.
The rate of inflation, based on the monthly wholesale price index (WPI), stood at 13.56 per cent for December 2021, compared to 1.9 per cent in the corresponding month of 2020, government data showed on Friday, January 14. Along with this, retail inflation also rose to 5.59 per cent in December, tracking a sharp rise in food prices. The next WPI inflation data will be released after Budget 2022 - scheduled to be presented on February 1.