WPI inflation the highest in the last eight months, says Commerce Ministry
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As per data released by the Commerce and Industry Ministry on Monday, India's Wholesale Price Index (WPI) based inflation hit the highest in October at 1.48 per cent in the last eight months. Previously, it hit the highest in February with 2.26%. This is the third month wherein WPI inflation has been consistently high with August recording 0.16 per cent and September recording 1.32 per cent. In 2019, the WPI inflation recorded in October was zero per cent.
Though the price of food items came down when compared to September, the prices of manufactured goods rose in comparison to the previous month. While food inflation in September was at 8.17 per cent, it came down to 6.37 per cent in October. Compared to the 1.61% of WPI inflation recorded in September for manufactured products, it rose to 2.12 per cent in October.
Despite the fall in inflation for food products, the prices of vegetables have remained high in October. Potato prices increased by 107.70 per cent, a further increase compared to the 107.63 per cent recorded in September 2020. Onion prices in October rose by 8.49 per cent as compared to the (-) 31.64 per cent recorded in September. However, the prices of fuel and power recorded a relaxed (-) 10.95 per cent in October.
Based on the consumer price index, the retail inflation recorded for October is 7.61 per cent, which is a 6-year high owing to inflation in food, transportation, communication, health and personal care and effects.