India's annual inflation rate based on wholesale prices continued in the negative territory in August, falling to (-)4.95 percent from (-)4.05 percent in July, official data showed on Monday. The fall was mainly led by lower fuel prices.
The annual rate of inflation, as per the official wholesale price index, stood at 3.85 percent in the corresponding month of the previous year, according to data released by the commerce and industry ministry.
During the month under review, some commodities of mass consumption continued to upset household budgets and notably among them was onion prices, which were higher by as much as 65 percent over the like month of the previous year. Pulses were dearer by 36 percent.
At the same time potatoes and vegetables were cheaper by 52 percent and 21 percent, respectively. Even under the manufactured products category, prices of commodities pertaining to food fell -- especially sugar that was lower by 19 percent year-on-year,
Under fuels -- the index for which was down 16.5 percent -- petrol was cheaper by 13.26 percent and diesel by 24.54 percent.