EditorialRising inflation remains a challenge!

Rising inflation remains a challenge!

Date:

Despite resorting to a multi-pronged strategy by the government and corrective measures by its top institutions,
the upward inflation remained a challenge for as people have been expressing openly their woes.
The latest figures shared by the Ministry of Commerce & Industry claimed some respite on wholesale
inflation in the country at 12.41 per cent.
July month earlier saw a spike in the wholesale price index (WPI) at 13.93 per cent, while the WPI for June
was revised to 16.23 per cent from 15.18 per cent, the data showed. The WPI in August 2021 was 11.64 per
cent.
Despite some softening in the wholesale inflation data, the WPI continues to remain in the double digits for
the 17th consecutive month beginning April 2021.
“Inflation in August, 2022 is primarily contributed by rise in prices of mineral oils, food articles, crude
petroleum & natural gas, basic metals, chemicals & chemical products, electricity, food products etc. as
compared to the corresponding month of the previous year,” the government release said.
The food item-segment witnessed a spike of 12.37 per cent in August, the data revealed. In the month prior
to that, this was 10.77 per cent. The month-on-month basis hike can be attributed to a rise in vegetable
prices.
Vegetable prices rose 22.29 per cent in August, against 18.25 per cent in July, the data showed. Prices of
potato spiked to 43.56 per cent while that of onions slipped (-)24.76 per cent. Prices of fruits witnessed a
spike of 31.75 per cent last month from 29.44 per cent in July, while that of milk eased to 4.78 per cent from
5.45 per cent a month ago. Eggs, meat and fish prices rose 7.88 per cent in August up from 5.55 per cent a
month ago and cereals rose 11.77 per cent last month, rising from 9.76 per cent.
The fuel and power segment eased to 33.67 per cent last month from 43.75 per cent in July. Petrol prices
eased to 38.68 per cent from 55.30 per cent a month ago, HSD (High-Speed Diesel) slipped to 60.15 per cent
from 72.41 per cent, while LPG prices dipped to 19.75 per cent from 32.00 per cent.
The manufactured products segment eased to 7.51 per cent in August from 8.16 per cent in the month
prior.
In a separate release earlier this week, the data pertaining to the country's retail inflation, measured by the Consumer
Price Index (CPI), snapped out of its three-month downward trend and rose 7.00 per cent in the month of August.

Northlines
Northlines
The Northlines is an independent source on the Web for news, facts and figures relating to Jammu, Kashmir and Ladakh and its neighbourhood.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Popular

More like this
Related

Bring Fire Safety in vogue, stop devastation!

The figures of fire incidents in Kashmir alone are...

Unveiling the Shades of Electoral Bonds

The controversy surrounding Electoral Bonds has once again gripped...

Regulate Reused Cooking Oils

Sir, In commercial settings like restaurants, it’s common practice not...

Putting ‘Horse Blinders’ won’t work

The edict issued by the J&K Government directing its...