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Indian prices have come under pressure on several fronts this year. Global energy prices have risen sharply amid the conflict in West Asia, and the monsoon ended 13 per cent below its long-period average, raising concerns about farm output. Pressures of this kind do not reach households all at once. They show up first in the costs of producers, and only later, and unevenly, in the prices consumers pay. The August data make this visible. Wholesale inflation (WPI) stood at 9.92 per cent, more than twice the 4.82 per cent recorded by the Consumer Price Index (CPI).
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