Fifth time in a row, Wholesale price index (WPI) showcased negative inflation rate
On Thursday, September 14, the Indian government issued the wholesale pricing index (WPI) data for the month of August. Wholesale inflation was -0.52 percent. It is in the red for the fifth month in a row. Negative inflation, occurs when prices in an economy generally fall.
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Wholesale inflation was -1.36 percent in July, down from -4.12 percent in June.
The Wholesale Price Index (WPI) tracks changes in the pricing of goods sold and traded in bulk by wholesalers with other firms.
Unlike the CPI, which records consumer prices for goods and services, the WPI monitors factory gate prices preceding retail prices.
The government ascribed the negative inflation rate to a drop in the prices of mineral oils, basic metals, chemicals and chemical products, textiles, and food products compared to the previous year's corresponding month.
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