Country’s wholesale inflation soared to a two-year high of 3.74 per cent in August from 3.55 per cent in July.
As per official data released by Commerce and Industry Ministry today, the inflation for some commodities remained rather high: Potatoes (66.72 per cent), pulses (34.55 per cent) and fruits (13.91 per cent). But onion prices were down 64.19 percent in August this year, against the like month of the previous year.
The data further showed that the annual inflation for manufactured products and fuels remained modest at 2.42 per cent and 1.62 per cent, respectively.
Earlier, data on the consumer price index released on Monday by the Central Statistics Office (CSO) had showed that the annual retail inflation had eased by 100 basis points to 5.05 per cent in August.
The RBI tracks the consumer inflation for setting its monetary policy. In consumer price inflation, the food particles have a higher weightage as compared to that in wholesale price inflation