New Delhi:

Wholesale price-based inflation remained within the detrimental territory for the fifth straight month in August at (-)0.52 per cent, however costs of meals articles and gasoline confirmed an uptick.

The wholesale value index (WPI) primarily based inflation price has been within the detrimental since April and was (-)1.36 per cent in July. In August final yr it was 12.48 per cent.

Inflation in meals articles remained in double digit at 10.60 per cent in August, decrease than 14.25 per cent in July.

“The detrimental price of inflation in August 2023 is primarily attributable to fall in costs of mineral oils, fundamental metals, chemical & chemical merchandise, textiles and meals merchandise as in comparison with the corresponding month of earlier yr,” the commerce and business ministry stated on Thursday.

Fuel and energy basket inflation was at (-)6.03 per cent in August, in opposition to (-) 12.79 per cent in July.

In manufactured merchandise, inflation price was (-)2.37 per cent, as in opposition to (-)2.51 per cent in July.

The RBI final month stored key rate of interest unchanged at 6.5 per cent for the third straight assembly however signalled tighter coverage if meals costs drive inflation larger.

The central financial institution takes into consideration retail or shopper value index primarily based inflation for formulating financial coverage. Retail inflation information for August got here in at 6.83 per cent in August, decrease than 7.44 per cent in July.  

(Except for the headline, this story has not been edited by NDTV workers and is printed from a syndicated feed.)