Wholesale price inflation eased to 8.39 percent in October from 10.7 percent in September. This has been revealed in the figures released by the government. Wholesale inflation in the country has come down to a double-digit mark for the first time since March 2021. At that time the wholesale inflation rate was 7.89 percent. In such a situation, after 19 months, the figure for wholesale inflation has come to single digits.
Wholesale inflation remained in double digits for 18 consecutive months from April 2021
The Wholesale Price Index (WPI) print remained above the double-digit mark for 18 consecutive months from April 2021 to September 2022. According to the data, the WPI for August was revised to 12.48 percent from 12.41 percent. The wholesale inflation rate in October 2021 was 13.83 percent.
RBI governor had predicted relief in the inflation rate
Let us tell you that Reserve Bank of India Governor Shaktikanta Das recently predicted that the inflation rate may come down in October. The governor of the central bank, while predicting a decrease in the rate of inflation for October, also said that the reason for this is the steps taken by the government and the RBI in the last six-seven months.
Two percent drop in the inflation rate compared to September
In comparison to September, there has been a decline of about two percent in the wholesale inflation rate in October. According to the data released by the Ministry of Commerce and Industry, the decline in inflation in October was due to softening of prices of mineral oil, basic metals, fabricated metal products (except machinery and equipment), textiles, other non-metallic products, and minerals. I have come.
Food-based inflation stood at 6.48%
Food-based inflation stood at 6.48 percent in October as against 8.08 percent in September. In this, the inflation rate of cereals (12.03 percent), paddy (6.63 percent), wheat (16.25 percent), pulses (0.45 percent), vegetables (17.61 percent), potato (44.97 percent), onion (-30.02 percent), fruits (0.23 percent) percent), milk (5.53 percent) and eggs, meat and fish (3.97 percent), etc.
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