Business Standard brings the top headlines on Wednesday
Hardening global commodity prices spill over to domestic market
The wholesale price-based inflation eased to 10.66 per cent in September, helped by moderating food prices even as crude petroleum witnessed a spike. WPI inflation remained in double-digit for the sixth consecutive month. In August, it was 11.39 per cent. In September 2020, inflation was 1.32 per cent. The high rate of inflation in September 2021 is primarily due to rise in prices of mineral oils, basic metals, non-food articles, food products, crude petroleum & natural gas, chemicals and chemical products etc. as compared the corresponding month of the previous year, the Commerce and Industry Ministry said in a statement. Inflation in food articles eased for the fifth straight month, recording (-) 4.69 per cent in September from (-) 1.29 per cent in August, mainly due to easing vegetable prices. Pulses prices continued to spike at 9.42 per cent. Inflation in the fuel and power basket was 24.91 per cent in September, against 26.09 per cent in the previous month. The rise in crude
Fuel and power prices rose 24.81% in September year-on-year compared with 26.09% in August, while manufactured product prices rose 11.41% compared with 11.39% in the previous month.
Snapping the two-month easing trend, WPI inflation rose in August and remained in double-digit for the fifth consecutive month. In July 2021, WPI inflation stood at 11.16 per cent
Fuel and power prices rose 26.09% in August year-on-year compared with 26.02% in July, while manufactured product prices rose 11.39% compared with 11.20% in the previous month.
The IHS Markit Services Purchasing Managers' Index rose to 56.7 in August - its strongest pace since the pandemic hit the country in March 2020.
WPI inflation remained in double digit for the third consecutive month in July, mainly due to a low base of last year.
A low-base effect also contributed to the WPI inflation in July, since it stood at minus 0.25% in the corresponding month of 2020.
Massive Urban spike foreseen, food price volatility may worsen as monsoon approaches; decade high wholesale inflation may put further pressure, but favourable base effect may have tempering effect
WPI shows divergent trend from CPI counterpart, which fell to a 16-month low of 4.06%
Indians return to shopping and Supreme Court serves notice to Facebook, WhatsApp, and the government over user privacy. Those stories and more in our headlines this evening.
The wholesale price-based inflation slowed to 1.22 per cent in December on easing food prices, as per government data released on Thursday
The annual rate of inflation based on WPI Food Index decreased from 4.32 per cent in July to 4.07 per cent in August
Inflation in food articles during July stood at 4.08 per cent, as against 2.04 per cent in June
From Chennai lockdown to new cases in China mainland, Business Standard brings to you the top headlines of the day
Food inflation eased 1.13 per cent in May from 2.55 per cent in the preceding month
Inflation in food articles during May stood at 1.13 per cent, as against 2.55 per cent in April
The earlier high was recorded in April 2019, when the WPI inflation stood at 3.18 per cent
Onus of reviving growth will solely be on govt