India's wholesale price index rose 1.31% in August from a year earlier, government data released on Tuesday showed. Economists polled by Reuters had estimated wholesale price inflation at 1.85% in August.

The annual rate of inflation based on the all-India Wholesale Price Index (WPI) for August 2024 eased to 1.31 per cent, a provisional figure compared to 2.04 per cent in July 2024. According to the Ministry of Commerce and Industry,

While wholesale prices of cereals, paddy, pulses, vegetables, onion, milk, eggs, fish and meat fell in August, those of wheat, potato, and fruits rose during the month

India's wholesale price index based inflation eased to a four month low of 1.31% in August, helped by falling costs of crude oil, steel and cement, although prices of food staples like potatoes and onions rose sharply.

The Wholesale Price Index (WPI) fell to 1.31 per cent in August, according to the latest government data, marking a notable decrease from 2.04 per cent in July and a sharp drop from the 16-month high of 3.