Wholesale inflation rises to 1.84% in September due to surge in food prices
WPI inflation: The Ministry of Commerce and Industry said in a statement that the positive rate of inflation in September 2024 is mainly due to the increase in prices of food items, food products, other manufacturing, motor vehicles, manufacturing of trailers and semi-trailers, manufacturing of machinery and equipment, etc.
In September, wholesale price inflation increased to 1.84% because of the cost of vegetables and other foods. The wholesale price index (WPI)--based inflation rate was 1.31% in August. It fell by 0.07% in September of last year. Food inflation increased to 11.53% in September from 3.11% in August, according to government figures issued on Monday.
This happened due to vegetable inflation, which increased by 48.73% in September. It had fallen by 10.01% in August. In September, potato inflation remained high at 78.13%, while onion inflation was at 78.82%. In September, fuel and power prices decreased by 4.05%, compared to 0.67% in August.
The positive rate of inflation in Sept 2024 reflects principally a rise in the prices of food items, food products other manufacturing, motor vehicles, manufacture of trailers and semitrailers, manufacture of machinery and equipment etc, the Ministry of Commerce and Industry said in a statement.
Retail inflation mostly is what the Reserve Bank of India considers while building monetary policy essentially. The RBI had kept the key interest rate or repo rate unchanged at 6.5 % while reviewing the monetary policy this month. Data for retail inflation will be published later during the day.
