Representational picture of a wholesale market in in Assam’s Goalpara district
| Photo Credit: PTI
India’s wholesale prices remained in deflationary mode for the seventh month in a row in October, with the Wholesale Price Index (WPI) reflecting an inflation of -0.52% from -0.26% in September.
The wholesale meals index was up 1.07% in October in comparison with final yr, with meals prices up sequentially from September ranges by 1% as nicely.
While vegetable prices dropped 21%, inflation in paddy and cereals accelerated to 7.5% and 9.4% respectively. Pulses and onion inflation jumped to 19.4% and 62.6%, respectively.
The WPI-based inflation charge has been in the negative zone since April. In October final yr, WPI was at 8.67%.
“The negative rate of inflation in October, 2023, is primarily due to fall in prices of chemicals and chemical products, electricity, textiles, basic metals, food products, paper and paper products, etc. as compared to the corresponding month of previous year,” the commerce and trade ministry mentioned.
The gasoline and energy basket inflation was at (-) 2.47% in October, towards (-) 3.35% in September. In manufactured merchandise, the inflation charge was at (-) 1.13%, as towards (-) 1.34% in September.
The annual retail or shopper worth inflation for October hit a 5-month low of 4.87%, information launched on Monday confirmed.
(With inputs from PTI)
