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India’s Retail and Wholesale Inflation Rise in August
Prices in India went up faster in August than they did in July.
Prices paid by everyday shoppers rose by 4.8% compared with the same month last year.
Food prices were a major reason for this increase.
Ginger, onions and garlic became especially more expensive.
Prices for transport and food-serving services also increased.
Prices charged when goods are sold in large quantities rose even more, reaching 9.9%.
This wholesale inflation can affect the prices stores eventually charge customers.
The article says the war in West Asia and a blockade of the Strait of Hormuz disrupted supplies and added pressure to prices.
India imports much of its oil and gas through the strait.
India’s retail inflation rose to 4.8% in August from 4.4% in July.
Wholesale inflation increased to 9.9% from 9.7% during the same period.
Retail food inflation rose to 5.9%, driven partly by higher ginger, onion and garlic prices.
Wholesale food inflation increased to 7% from 6.6%, with manufactured food inflation reaching 9.6%.
Wholesale inflation has remained near double digits for four consecutive months, amid reported disruption linked to the war in West Asia and the Strait of Hormuz blockade.
- Who
- Indian consumers, producers and businesses were affected; the data was released by the Indian government’s National Statistics Office.
- What
- Retail inflation rose to 4.8% and wholesale inflation rose to 9.9% in August.
- Where
- India.
- When
- The figures for August were released on Monday and compared with July.
- Why
- Retail inflation was driven largely by higher food prices, while wholesale inflation was also linked to supply disruptions from the war in West Asia and the resulting Strait of Hormuz blockade.
Key facts
- August retail inflation
- 4.8%, up from 4.4% in July
- August wholesale inflation
- 9.9%, up from 9.7% in July
- Retail food inflation
- 5.9%, up from 5.5% in July
- Wholesale food inflation
- 7%, up from 6.6% in July
- Wholesale primary food articles inflation
- 5.6%, up from 5.4%
- Wholesale manufactured food inflation
- 9.6%, up from 8.8%
- Crude oil and natural gas imports
- India imports 88% of its crude oil and about half of its natural gas, much of it through the Strait of Hormuz
Sources
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