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WPI Inflation falls to single-digits at 9.97% in July

New Delhi: Wholesale price index (WPI) based inflation fell to single-digits at 9.97% in July, owing to decline in prices of certain food and non-food items, reports PTI.

Inflation was at 10.55% in June, while for May it was revised upwards to 11.14% from the provisional number of 10.16%.

Inflation was in double-digits at over 10% in the last four months to June.

In July, onion prices dipped by 6.85%, while edible oils became cheaper by 0.34% compared to the same period last year. Vegetable prices fell by over 14% and that of potato by over 44% on year-on-year basis.

Cement prices fell by 8.36% and that of non-metallic mineral products by 4.81% on yearly basis.

The food index rose marginally by 0.9% as the impact of decline in prices of potato, onion and other vegetables was somewhat neutralised by rise in prices of cereals (6.17%), rice (6.28%), pulses (21.98%) milk (18.06%) and fruits (9.52%) on yearly basis.

Among primary (raw) food items, moong became cheaper by 4%, while masur, arhar and fish-marine by 1% each compared to same period last year.

Food inflation had surged back to double digit at 11.40% for the week ended 31st July, after remaining in single-digits for two consecutive weeks.

In July, the fuel index rose by 3.2% due to higher prices of kerosene (24%) and liquefied petroleum gas (LPG) (8%).

The government had in late June decontrolled the prices of petrol and increased prices of diesel, LPG and kerosene.

However, the prices of furnace oil declined by 2% and that of naphtha and light diesel oil by 1% each.

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Govt fixes ethanol price for fuel blending at Rs 27 a litre

New Delhi: The government today raised the price of ethanol for blending with fuel at Rs27 per litre from existing Rs21.50 per litre.

"The Cabinet Committee on Economic Affairs (CCEA) has approved the hike in price of ethanol to Rs27 per litre from existing price of Rs21.50 per litre for 5% mandatory blending with fuel," a source said.

A Group of Ministers (GoM) has recently reaffirmed Rs27 per litre price for ethanol to be paid by the oil marketing companies to the sugar companies.

The chemical industry and oil marketing companies had demanded a much lower price in line with prevailing domestic price of around Rs18 per litre.

The two primary consumers of molasses-based alcohol are the potable liquor sector and chemical producers.

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