Inflation based on wholesale prices remained in negative territory for the fifth consecutive month at (-) 0.52 percent in August, but food and fuel prices turned upward.
Inflation based on the Wholesale Price Index (WPI) has been negative since April and stood at (-) 1.36 percent in July. In August last year, it was 12.48 percent.

Food inflation remained in double digits at 10.6 percent in August, falling below 14.25 percent in July.
"Behind the negative inflation rate in August 2023 is mainly the drop in the prices of mineral oils, base metals, chemicals and chemical products, textiles and foodstuffs compared to the corresponding month last year," announced the Ministry of Trade and Industry. . Thursday. Inflation of the fuel and electricity basket was (-)6.03 percent in August, and (-)12.79 percent in July.
Industrial goods inflation was (-)2.37 percent, while it was (-)2.51 percent in July.
The RBI kept the benchmark interest rate at 6.5 percent for the third consecutive meeting last month, but announced a tighter policy if food prices push up inflation.

When planning monetary policy, the central bank considers inflation based on the retail or consumer price index. August retail inflation data was 6.83 percent in August, down from 7.44 percent in July.