Wholesale inflation eased to 0.16% in October – lowest in 40 months
The wholesale price inflation was 0.33% in September.
India’s wholesale price inflation eased to 0.16% in October from 0.33% in September, data released by the government showed on Thursday. The inflation rate in July and August was 1.08%, then a two-year low.
The inflation in October was the lowest in 40 months, BloombergQuint reported.
The wholesale prices of primary articles stood at 6.4% as against 5.5% in September, the data showed. The rate of price rise for food articles was 9.8%, while that for non-food articles stood at 2.35%. Fuel and power prices contracted 8.3% as against a fall of 7.05% in the previous month. The wholesale prices of the manufactured products also contracted by 0.8%, as against a contraction of 0.4% in September.
Government data released on Wednesday showed that the retail inflation rose to 4.62% in October because of an increase in vegetable prices even as core inflation fell. This breached India’s medium-term retail inflation target of 4% for the first time since July 2018.
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