India’s rate of inflation based on the countrywide Wholesale Price Index (WPI) for August 2024 eased to 1.31 percent, a provisional figure compared to 2.04 percent in July 2024, Asian News International (ANI) reported on Tuesday.

According to the Ministry of Commerce and Industry, the rise in inflation is primarily due to increases in the prices of food articles, processed food products, textiles, and machinery and equipment.

The WPI for all commodities in August stood at 154.5, showing a slight decrease from 155.2 in July. Primary articles, which hold a weightage of 22.62 percent, registered an index of 194.9 with a year-on-year inflation rate of 2.42 percent, down from 3.08 percent in July.

The drop in primary articles was driven by declining prices in minerals, crude petroleum, and natural gas.