NEW DELHI (Economy India): As per the All India Wholesale Price Index (WPI), the annual inflation rate for August 2024, compared to August 2023, stood at 1.31% (provisional). The positive inflation rate in August 2024 is primarily attributed to price increases in food articles, processed food products, textiles, machinery, equipment manufacturing, and other manufacturing sectors. Below are the WPI numbers and inflation rates for the last three months across all commodities and major components:
Index Numbers and Year-over-Year Inflation Rates (in %)*
| Commodity/Group | Weight (%) | June-24 | Inflation (%) | July-24 (Provisional) | Inflation (%) | August-24 (Provisional) | Inflation (%) |
|---|---|---|---|---|---|---|---|
| All Commodities | 100.00 | 154.0 | 3.43 | 155.2 | 2.04 | 154.5 | 1.31 |
| I. Primary Articles | 22.62 | 192.3 | 9.20 | 197.6 | 3.08 | 194.9 | 2.42 |
| II. Fuel & Power | 13.15 | 146.9 | 0.48 | 147.9 | 1.72 | 148.1 | -0.67 |
| III. Manufactured Products | 64.23 | 142.0 | 1.50 | 141.7 | 1.58 | 141.6 | 1.22 |
| Food Index | 24.38 | 190.7 | 8.91 | 195.4 | 3.55 | 193.2 | 3.26 |
Note: P: Provisional; *Inflation rate calculated on a year-over-year basis compared to the same month in the previous year.
Month-over-Month Changes in Wholesale Price Index (WPI) for August 2024
The month-on-month (MoM) change in WPI for August 2024, compared to July 2024, was recorded at (-0.45%). A summary of MoM changes in WPI over the last six months is provided below:
Month-on-Month WPI Changes (in %)
| Commodity/Group | Weight (%) | Mar-24 | Apr-24 | May-24 | Jun-24 | Jul-24 (P) | Aug-24 (P) |
|---|---|---|---|---|---|---|---|
| All Commodities | 100.00 | 0.13 | 0.99 | 0.39 | 0.33 | 0.78 | -0.45 |
| I. Primary Articles | 22.62 | 0.94 | 2.13 | 0.53 | 2.23 | 2.76 | -1.37 |
| II. Fuel & Power | 13.15 | -1.81 | -0.46 | -0.86 | -2.13 | 0.68 | 0.14 |
| III. Manufactured Products | 64.23 | 0.21 | 0.79 | 0.57 | 0.00 | -0.21 | -0.07 |
| Food Index | 24.38 | 1.12 | 2.33 | 0.92 | 2.36 | 2.46 | -1.13 |
Note: P: Provisional; #MoM rate of change calculated by comparing the index of the current month with that of the previous month.
Month-on-Month Changes in Major Groups of the Wholesale Price Index (WPI) – August 2024
- Primary Articles (Weight: 22.62%):
The index for this group decreased by 1.37% from 197.6 (provisional) in July 2024 to 194.9 (provisional) in August 2024. The decline is mainly due to lower prices in the following categories:- Minerals (-2.66%)
- Crude Petroleum and Natural Gas (-1.84%)
- Food Articles (-1.83%)
However, prices for Non-Food Articles rose by 1.65% during the same period.
- Fuel & Power (Weight: 13.15%):
The index for this group increased slightly by 0.14% from 147.9 (provisional) in July 2024 to 148.1 (provisional) in August 2024. This increase was primarily driven by a rise in electricity prices (+1.59%), while prices for mineral oils fell by -0.32%. Coal prices remained unchanged compared to July 2024. - Manufactured Products (Weight: 64.23%):
The index for manufactured products fell marginally by 0.07% from 141.7 (provisional) in July 2024 to 141.6 (provisional) in August 2024. Out of 22 NIC two-digit groups:- 12 groups saw price increases, including:
- Manufacture of Food Products
- Fabricated Metal Products (except Machinery and Equipment)
- Motor Vehicles, Trailers, and Semi-Trailers
- Machinery and Equipment
- Paper and Paper Products
- 7 groups experienced price declines, such as:
- Manufacture of Basic Metals
- Other Manufacturing
- Other Non-Metallic Mineral Products
- 3 groups showed no change in prices.
- 12 groups saw price increases, including:
- WPI Food Index (Weight: 24.38%):
The food index, which includes both “Food Articles” from the Primary Articles group and “Food Products” from the Manufactured Products group, decreased from 195.4 in July 2024 to 193.2 in August 2024. The annual inflation rate for the food index, based on WPI, dropped from 3.55% in July 2024 to 3.26% in August 2024.
Final Index for June 2024 (Base Year: 2011-12 = 100)
For the month of June 2024, the final WPI for “All Commodities” stood at 154.0, with the inflation rate at 3.43%. Updated WPI data for various commodity groups and their inflation rates are detailed in Annexure I. The YoY inflation rates for various groups over the past six months are provided in Annexure II, while the WPI for different groups over the last six months is available in Annexure III.
Response Rate
The WPI for August 2024 has been compiled with a weighted response rate of 90.2%, while the final figure for June 2024 is based on a 95.9% weighted response rate. Revisions in provisional data will be made in accordance with WPI’s revision policy.
The next WPI press release for September 2024 will be issued on October 14, 2024.
For more information, please visit the official website.
All-India Wholesale Price Index (WPI) and Inflation Rates for August 2024 (Base Year: 2011-12=100)
| Category | Weight | Index (Aug 2024) | Month-on-Month Change | Year-on-Year Inflation (Aug 2023) | Year-on-Year Inflation (Aug 2024) |
|---|---|---|---|---|---|
| All Items | 100% | 154.5 | -0.45% | 2.14% | 1.31% |
| Primary Articles | 22.62% | 194.9 | -1.37% | 6.73% | 2.42% |
| – Food Articles | 15.26% | 209.1 | -1.83% | 11.43% | 3.11% |
| — Pulses | 234.3 | 1.52% | 10.39% | 18.57% | |
| — Vegetables | 303.1 | -12.32% | 48.44% | -10.01% | |
| — Onions | 387.7 | 11.44% | 34.12% | 65.75% | |
| Fuel and Power | 13.15% | 148.1 | 0.14% | -6.34% | -0.67% |
| – LPG | 0.64% | 114.4 | 0.53% | -24.01% | 14.40% |
| Manufactured Products | 64.23% | 141.6 | -0.07% | -2.30% | 1.22% |
| – Food Product Manufacturers | 9.12% | 166.6 | 0.42% | -3.54% | 3.61% |
Key Insights
- Food Articles: Significant decline in the prices of vegetables and a sharp increase in onion prices.
- Fuel and Power: Stable overall, with a notable rise in LPG prices.
- Manufactured Products: Overall inflation increased despite slight month-on-month decrease in the index.
Feel free to ask if you need more details or further assistance!
Wholesale Price Index (WPI) Based Inflation Rates for the Past 6 Months
| Category/Group/Sub-Group/Item | Weight | Mar 2024 | Apr 2024 | May 2024 | Jun 2024 | Jul 2024 | Aug 2024 |
|---|---|---|---|---|---|---|---|
| All Items | 100.00% | 0.26% | 1.19% | 2.74% | 3.43% | 2.04% | 1.31% |
| Primary Articles | 22.62% | 4.57% | 5.23% | 7.42% | 9.20% | 3.08% | 2.42% |
| – Food Articles | 15.26% | 7.05% | 8.07% | 9.93% | 11.14% | 3.45% | 3.11% |
| — Cereals | 9.04% | 8.72% | 9.01% | 9.21% | 8.96% | 8.44% | |
| — Rice | 1.43% | 11.74% | 12.03% | 11.57% | 11.90% | 10.98% | 9.12% |
| — Wheat | 1.03% | 7.48% | 5.69% | 6.27% | 6.25% | 7.00% | 7.28% |
| — Pulses | 0.64% | 17.18% | 16.79% | 21.95% | 21.64% | 20.27% | 18.57% |
| — Vegetables | 1.87% | 20.09% | 23.60% | 32.59% | 39.06% | -8.93% | -10.01% |
| — Potatoes | 0.28% | 58.43% | 71.97% | 64.05% | 68.23% | 76.23% | 77.96% |
| — Onions | 0.16% | 56.48% | 59.20% | 58.98% | 93.35% | 88.77% | 65.75% |
| — Fruits | 1.60% | -3.05% | -0.69% | 5.91% | 10.14% | 15.62% | 16.69% |
| — Milk | 4.44% | 5.08% | 4.87% | 3.78% | 4.04% | 4.55% | 3.51% |
| — Eggs, Meat, and Fish | 2.40% | -1.75% | 0.88% | 0.68% | -3.06% | -1.59% | -0.69% |
| – Non-Food Articles | 4.12% | -4.25% | -4.77% | -3.87% | -1.01% | -2.90% | -2.08% |
| — Oilseeds | 1.12% | -7.17% | -6.41% | -5.08% | -3.33% | -4.26% | -5.38% |
| — Minerals | 0.83% | -0.36% | -0.27% | 5.73% | 10.70% | 6.59% | 8.76% |
| — Crude Petroleum and Natural Gas | 2.41% | 4.87% | 4.97% | 9.80% | 12.55% | 9.12% | 1.77% |
| — Crude Petroleum | 1.95% | 10.26% | 6.52% | 11.07% | 14.04% | 9.19% | -0.98% |
| Fuel and Power | 13.15% | -2.75% | -0.85% | 1.01% | 0.48% | 1.72% | -0.67% |
| – LPG | 0.64% | -10.19% | -9.40% | 2.48% | 1.49% | 6.06% | 14.40% |
| – Petrol | 1.60% | -0.94% | -0.63% | 0.51% | -1.35% | -0.64% | -4.23% |
| – HSD | 3.10% | -3.51% | -1.86% | -1.06% | -1.78% | -1.65% | -3.03% |
| Manufactured Products | 64.23% | -0.85% | -0.14% | 1.00% | 1.50% | 1.58% | 1.22% |
| – Food Product Manufacturers | 9.12% | 0.81% | 2.18% | 3.52% | 4.47% | 3.75% | 3.61% |
| – Vegetable & Animal Oils and Fats | 2.64% | -7.73% | -4.89% | -1.40% | 2.34% | 1.02% | 1.83% |
| – Beverage Manufacturers | 0.91% | 1.69% | 1.53% | 1.99% | 2.07% | 2.14% | 1.90% |
| – Tobacco Product Manufacturers | 0.51% | 4.20% | 3.83% | 1.69% | 1.44% | 2.31% | 3.65% |
| – Textile Manufacturers | 4.88% | -1.83% | -1.09% | -0.15% | 1.19% | 2.09% | 1.79% |
| – Wearable Apparel Manufacturers | 0.81% | 1.00% | 2.41% | 1.33% | 1.74% | 1.26% | 1.46% |
| – Leather & Related Products Manufacturers | 0.54% | 1.14% | 0.16% | 0.40% | -0.08% | -0.95% | -0.64% |
| – Wood & Cork Products Manufacturers | 0.77% | 4.27% | 3.82% | 3.10% | 2.96% | 3.53% | 3.17% |
| – Paper & Paper Products Manufacturers | 1.11% | -6.12% | -6.32% | -5.41% | -3.62% | -0.57% | 0.50% |
| – Chemical & Chemical Products Manufacturers | 6.47% | -4.64% | -3.83% | -2.72% | -1.09% | 0.15% | 0.22% |
| – Pharmaceuticals, Medicinal Chemicals & Botanical Products Manufacturers | 1.99% | 1.20% | 0.49% | 0.77% |
Wholesale Price Index (WPI) Data for the Past 6 Months
| Category/Group/Sub-Group/Item | Weight | Mar 2024 | Apr 2024 | May 2024 | Jun 2024 | Jul 2024 | Aug 2024 |
|---|---|---|---|---|---|---|---|
| All Items | 100.00% | 151.4 | 152.9 | 153.5 | 154.0 | 155.2 | 154.5 |
| Primary Articles | 22.62% | 183.2 | 187.1 | 188.1 | 192.3 | 197.6 | 194.9 |
| – Food Articles | 15.26% | 191.4 | 196.8 | 199.3 | 205.5 | 213.0 | 209.1 |
| — Cereals | 2.82% | 200.2 | 199.5 | 199.6 | 201.5 | 203.0 | 204.2 |
| — Rice | 1.43% | 196.0 | 197.4 | 197.7 | 199.4 | 201.1 | 201.1 |
| — Wheat | 1.03% | 201.1 | 197.0 | 196.5 | 199.0 | 200.2 | 202.0 |
| — Pulses | 0.64% | 211.4 | 215.6 | 223.9 | 229.3 | 230.8 | 234.3 |
| — Vegetables | 1.87% | 211.0 | 227.3 | 236.4 | 283.4 | 345.7 | 303.1 |
| — Potatoes | 0.28% | 214.2 | 270.0 | 311.7 | 343.7 | 390.0 | 394.0 |
| — Onions | 0.16% | 216.1 | 204.1 | 205.4 | 279.2 | 347.9 | 387.7 |
| — Fruits | 1.60% | 180.9 | 200.5 | 202.5 | 200.9 | 196.2 | 207.6 |
| — Milk | 4.44% | 184.2 | 185.3 | 184.0 | 185.5 | 186.0 | 185.9 |
| — Eggs, Meat, and Fish | 2.40% | 168.9 | 172.6 | 178.4 | 174.5 | 173.7 | 173.2 |
| – Non-Food Articles | 4.12% | 160.0 | 157.7 | 156.5 | 157.3 | 157.2 | 159.8 |
| — Oilseeds | 1.12% | 178.7 | 179.5 | 179.2 | 180.0 | 179.8 | 177.7 |
| — Minerals | 0.83% | 221.6 | 224.0 | 227.1 | 229.6 | 229.6 | 223.5 |
| — Crude Petroleum and Natural Gas | 2.41% | 157.1 | 162.7 | 156.9 | 156.0 | 157.9 | 155.0 |
| — Crude Petroleum | 1.95% | 136.5 | 142.1 | 132.4 | 133.2 | 136.6 | 131.6 |
| Fuel and Power | 13.15% | 152.1 | 151.4 | 150.1 | 146.9 | 147.9 | 148.1 |
| – LPG | 0.64% | 123.4 | 121.4 | 120.0 | 115.7 | 113.8 | 114.4 |
| – Petrol | 1.60% | 157.9 | 158.5 | 157.8 | 153.8 | 155.0 | 153.9 |
| – HSD | 3.10% | 170.3 | 168.5 | 167.7 | 166.0 | 167.4 | 166.7 |
| Manufactured Products | 64.23% | 140.1 | 141.2 | 142.0 | 142.0 | 141.7 | 141.6 |
| – Food Product Manufacturers | 9.12% | 162.1 | 164.0 | 164.5 | 165.9 | 165.9 | 166.6 |
| – Vegetable & Animal Oils and Fats | 2.64% | 145.7 | 147.8 | 147.6 | 148.4 | 149.2 | 150.2 |
| – Beverage Manufacturers | 0.91% | 132.5 | 132.9 | 133.2 | 133.4 | 133.6 | 133.9 |
| – Tobacco Product Manufacturers | 0.51% | 176.3 | 176.3 | 174.3 | 176.2 | 177.2 | 178.9 |
| – Textile Manufacturers | 4.88% | 134.3 | 135.7 | 135.7 | 136.4 | 136.7 | 136.5 |
| – Wearable Apparel Manufacturers | 0.81% | 151.5 | 153.1 | 152.0 | 152.3 | 152.1 | 152.8 |
| – Leather & Related Products Manufacturers | 0.54% | 123.7 | 123.6 | 124.0 | 124.6 | 124.5 | 124.7 |
| – Wood & Cork Products Manufacturers | 0.77% | 149.1 | 149.4 | 149.5 | 149.5 | 149.5 | 149.5 |
| – Paper & Paper Products Manufacturers | 1.11% | 138.0 | 137.9 | 138.1 | 138.4 | 138.7 | 139.7 |
| – Chemical & Chemical Products Manufacturers | 6.47% | 135.6 | 135.7 | 135.8 | 136.4 | 136.8 | 136.6 |
| – Pharmaceuticals, Medicinal Chemicals & Botanical Products Manufacturers | 1.99% | 143.4 | 143.5 | 144.0 | 144.0 | 144.7 | 144.6 |
Wholesale Price Index (WPI) Data for the Past 6 Months
| Category/Group/Sub-Group/Item | Weight | Mar 2024 | Apr 2024 | May 2024 | Jun 2024 | Jul 2024 | Aug 2024 |
|---|---|---|---|---|---|---|---|
| Rubber and Plastic Products Manufacturers | 2.30% | 128.2 | 128.1 | 128.3 | 128.8 | 129.0 | 129.0 |
| Other Non-Metallic Mineral Products Manufacturers | 3.20% | 133.1 | 132.6 | 132.3 | 130.7 | 130.5 | 129.8 |
| Cement, Lime, and Plaster | 1.64% | 134.3 | 133.6 | 132.8 | 130.3 | 129.9 | 127.9 |
| Manufacture of Basic Metals | 9.65% | 138.7 | 141.4 | 144.7 | 143.3 | 141.1 | 139.5 |
| Light Steel – Semi-Finished Steel | 1.27% | 117.0 | 118.4 | 122.0 | 121.7 | 119.2 | 117.8 |
| Manufacture of Metal Products (excluding Machinery & Equipment) | 3.15% | 136.2 | 136.0 | 136.4 | 136.1 | 136.2 | 136.8 |
(Economy India
Source:
Economy India
