WPI Data: Wholesale price inflation eases to 19-month low of 8.39 per cent in October, against 10.7 per cent in September

NewDelhi: The wholesale price index-based (WPI) inflation has eased to a 19-month low of 8.39 per cent in October as against 10.7 per cent as reported in September this year. The WPI inflation was reported at a high of 12.41 per cent in August. Since April 2021, WPI inflation remained in double digits for 18 months with September print at 10.79 per cent. Inflation in October 2021 was 13.83 per cent. The Ministry of Commerce said that the decline in the rate of inflation in October, 2022 is primarily contributed by a fall in the price of mineral oils, basic metals and textiles.

“Decline in the rate of inflation in October 2022 is primarily contributed by fall in the price of mineral oils, basic metals, fabricated metal products, except machinery and equipment; textiles; other non-metallic mineral products; minerals etc,” 

The Department For Promotion Of Industry And Internal Trade under the Ministry Of Commerce & Industry, said that the month-over-month change in the WPI index for October, 2022 stood at 0.26% as compared to September, 2022.

The inflation index in the Primary Articles category increased by 2.72% to 181 (provisional) in October, 2022 from 176.2 (provisional) for the month of September, 2022. The inflation in the category stood at 11.04 per cent in October compared to 11.73 per cent in September and 14.74 per cent in August.

The inflation for the fuel & power category stood at 23.17 per cent in October compared to 32.61 per cent in September and 35.03 per cent in August.

The index for manufacturing products declined by 0.42% to 141.9 (provisional) in October, 2022 from 142.5 (provisional) in October, 2022. The inflation for this group stood at 4.42 per cent in October as against 6.34 per cent in September and 7.51 per cent in August.

“The Food Index consisting of ‘Food Articles’ from the Primary Articles group and ‘Food Product’ from the Manufactured Products group have increased from 175.2 in September, 2022 to 177.5 in October, 2022. The rate of inflation based on WPI Food Index decreased from 8.08% in September, 2022 to 6.48% in October, 2022,” said the government data. 

Bureau Report