Wholesale price inflation nears double digits in August; next month may be worse
New Delhi, Sept. 14 -- Wholesale price inflation inched up to 9.92% in August from 9.78% in July, as the West Asia flare-up boosted energy prices and food items turned dearer. With a durable resolution to the Iran war still elusive and below-par seasonal showers likely to hit the summer-sown crop harvest, analysts expect wholesale price inflation to hit double digits in September.
In August, inflation in crude petroleum and natural gas jumped 34.41%, compared with 26.99% in July, lifting fuel and power inflation to 22.93% from 20.05% in the previous month. Inflation in the two other major groups-manufactured products and primary articles-touched 8.29% and 8.52%, respectively in August, from 8.37% and 7.76% in the previous month.
Overall...
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