India’s wholesale inflation increased to 12.54% in October from 10.66% in September, government data showed on Monday. The price rise indicator in wholesale markets has remained in double digits for the seventh consecutive month.
“The high rate of inflation in October 2021 is primarily due to rise in prices of mineral oils, basic metals, food products, crude petroleum and natural gas, chemicals and chemical products as compared to the corresponding month of the previous year,” the Commerce and Industry Ministry said in a statement.
The data showed that wholesale inflation in manufactured items was higher in October at 12.04% compared to 11.41% during the last month.
In the fuel and power basket, the rate of price rise was 37.18% in October, against 24.81% in September. Inflation in food items witnessed growth – it stood at 1.69% in October as opposed to -4.69% in September.
Crude petroleum inflation stood at 80.57% during October. It was 71.86% in September.
On Friday, government data showed that India’s retail inflation increased to 4.48% in October – driven by a rise in food prices – from 4.35% in September.