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Publishing time:2021-10-17 22:43:14

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WPI inflation eases to 10.66% in September on lower food prices
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WPI inflation eases to 10.66% in September on lower food prices

The wholesale price-based inflation eased to 10.66 per cent in September, helped by moderating food prices even as crude petroleum witnessed a spike. WPI inflation remained double-digit for the sixth consecutive month. In August, it was 11.39 per cent. In September 2020, inflation was 1.32 per cent.

“The high rate of inflation in September 2021 is primarily due to rise in prices of mineral oils, basic metals, non-food articles, food products, crude petroleum & natural gas, chemicals and chemical products etc. as compared the corresponding month of the previous year,” the Commerce and Industry Ministry said in a statement.

Inflation in food articles eased for the fifth straight month, recording (-) 4.69 per cent in September from (-) 1.29 per cent in August, mainly due to easing vegetable prices. Pulses prices continued to spike at 9.42 per cent.

Inflation in the fuel and power basket was 24.91 per cent in September, against 26.09 per cent in the previous month.

The rise in crude petroleum and natural gas prices was 43.92 per cent in September over 40.03 per cent in the previous month. In manufactured products, inflation stood at 11.41 per cent during the month.

The RBI, which mainly takes into account retail inflation in its monetary policy, earlier this month kept interest rates unchanged at record lows.

Retail inflation in September too slowed to a five-month low of 4.4 per cent on moderating food prices.

ALSO READ: ​Relief for commoners? Govt cuts basic customs duty, agri cess on edible oil as prices spiral

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Source: Nanfang Daily Online    Editor in charge: hit