India’s WPI inflation rises 8-month high of 1.48% in October

Inflation in non-food articles and minerals was higher at 2.85 per cent and 9.11 per cent, respectively. (Photo: AFP)


India’s annual rate of price-based inflation rose to an eight-month high of 1.48 per cent in October from a rise of 1.32 per cent in September.

A statement issued by the Ministry of Commerce and Industry on WPI stated, “the rate of inflation, based on monthly WPI, stood at 1.48 per cent (provisional) for the month of October, 2020 (over October, 2019), as compared to ‘0.00 per cent’ (standstill) during the corresponding month of the previous year.”

In the manufactured products category, inflation stood at 2.12 per cent in October, compared to 1.61 per cent in September.

This is the highest level of Wholesale price index-based (WPI) inflation since February when it was 2.26 per cent.

While food article prices softened in October, manufactured items witnessed hardening of prices, according to data released by the Commerce and Industry Ministry on Monday.

The prices of food items rose by 6.37 per cent from 8.17 per cent reported for September 2020 and 9.80 per cent in October 2019.

The rate of price rise in vegetables and potato increased by 107.70 per cent while it had risen by 107.63 per cent during September 2020.

Inflation in non-food articles and minerals was higher at 2.85 per cent and 9.11 per cent, respectively.

Prices in fuel and power basket softened to (-) 10.95 per cent in October.

The retail inflation, based on the consumer price index, was 7.61 per cent in October, data released last week showed.

The Reserve Bank in a report on the state of economy last week had also flagged unrelenting pressure of inflation as a downside risk confronting the prospects of economic recovery.