Highlights
- The wholesale price-based inflation declined for the fourth consecutive month to 10.7% in September
- Wholesale Price Index-based inflation was 12.41% in August and 11.80% in September final 12 months
- This 12 months, the Wholesale Price Index (WPI) touched a report excessive of 15.88 per cent in May
Business information:Â The wholesale price-based inflation declined for the fourth consecutive month to 10.7 per cent in September on softening in costs of meals, gas and manufactured objects.
The Wholesale Price Index-based inflation was 12.41 per cent in August and 11.80 per cent in September final 12 months. This 12 months, the Wholesale Price Index (WPI) touched a report excessive of 15.88 per cent in May.
September is the 18th consecutive month of double-digit WPI inflation.
“Inflation in September, 2022 is primarily contributed by rise in prices of mineral oils, food articles, crude petroleum & natural gas, chemicals & chemical products, basic metals, electricity, textiles etc. as compared to the corresponding month of the previous year,” an official assertion mentioned.
Inflation in meals articles in September eased to 11.03 per cent, towards 12.37 per cent in August.
However, inflation in greens rose to 39.66 per cent in the course of the month, as towards 22.29 per cent in August.
In the gas and energy basket, inflation got here in decrease at 32.61 per cent in September, towards 33.67 per cent in August.
In manufactured merchandise and oil seeds it was 6.34 per cent and (-) 16.55 per cent, respectively.
The RBI primarily appears at retail inflation to body financial coverage.
Retail inflation remained above the Reserve Bank’s higher tolerance threshold of 6 per cent for the ninth month in a row and was at a 5-month excessive of seven.41 per cent in September, as per knowledge launched earlier this week.
To tame stubbornly excessive inflation, the RBI has hiked the important thing rate of interest 4 occasions this 12 months to 5.90 per cent- the best since April 2019.
(With companies inputs)
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