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Wholesale inflation also rose to 2.36% in October, the effect of rising prices of food items
Wholesale Inflation, WPI: India's wholesale inflation rate rose to 2.36 percent on an annual basis in October. It was 1.84 percent in September. This increase was due to the increase in the prices of food items. Government data related to this was released on Thursday. Let's know about this in detail.
In October, India's wholesale inflation rate increased to 2.36 percent annually. In September, it was 1.84 percent. The price increase of food goods was the cause of this increase. Government data related to this was released on Thursday. According to a Reuters survey, wholesale inflation, or wholesale inflation as determined by the Wholesale Price Index, was expected to be 2.2%.
India's retail inflation rose to a 14-month high of 6.2% in October, earlier than expected, from 5.5% a month ago. In tandem with the rising inflation, signs of a slowdown are beginning to appear in the economy. Probably for this reason, the RBI may delay the decision to ease monetary policy.
According to official data released on Tuesday, a spike in vegetable, fruit, and edible oil prices was the reason for the jump. Retail inflation crossed the outer limits of the central bank's inflation target in October for the first time since August 2023. WPI measures the price rise of wholesale goods. In India, the wholesale price index is subdivided into three groups, these are primary goods constituting 22.6 percent of the total weight; fuel and electricity 13.2 percent, and manufactured goods 64.2%.
