Middle-class woes
The Indian middle class, often hailed as the backbone of the nation’s economy, is at a critical juncture.
India’s wholesale price index (WPI) based inflation remained in negative zone as it eased to (-) 0.26 per cent in September against (-) 0.52 per cent recorded the previous month, according to data released by the Union Finance Ministry on Monday.
The deflation was primarily due to fall in prices of chemical & chemical products, mineral oils, textiles, basic metals and food products as compared to the corresponding month of previous year.
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The WPI inflation has remained in the deflationary zone for the sixth month in a row in September, the data revealed.
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In March this year, WPI inflation had fallen to a 29-month low of 1.34 per cent owing to steep fall in indexes of primary articles, manufactured products, fuel and power as well as food.
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