Team News Riveting
New Delhi, November 16
India’s wholesale inflation firmed up for a third month in a row to 1.48 per cent (provisional) in October as manufactured products turned costlier.
Maintaining a steady rise for the third straight month, India’s annual rate of inflation based on wholesale prices jumped to 1.48 per cent in October from a rise of 1.32 per cent in September.
“The rate of inflation, based on monthly WPI, stood at 1.48 per cent (provisional) for the month of October, 2020 (over October, 2019), as compared to ‘0.00 per cent’ (standstill) during the corresponding month of the previous year,” a Ministry of Commerce and Industry statement on WPI said.
On a sub-segment basis, prices of manufactured items remained at elevated levels with a rise of 2.12 per cent from 1.61 per cent reported for September and (-) 0.93 per cent recorded during October 2019.
The index for this major group increased by (0.42 per cent) to 120.3 (provisional) in October, 2020 from 119.8 (provisional) for the month of September, 2020. Out of the 22 NIC two-digit groups for manufactured products, 13 groups that have witnessed increase in prices whereas 9 groups that have witnessed decrease in prices.
The expenses on primary articles, which constitute 22.62 per cent of the WPI’s total weightage, increased to 4.74 per cent.
However, it increased at a faster pace in September 2020 at 5.10 per cent and 6.05 per cent the corresponding month of the previous year.
The prices of food items rose by 6.37 per cent from 8.17 per cent reported for September 2020 and 9.80 per cent in October 2019.
On the commodity front, potato price increased by 107.70 per cent while it had risen by 107.63 per cent during September 2020.
Besides, onion prices in October rose 8.49 per cent against a rise of (-) 31.64 per cent in September.
Similarly, pulses became dearer by 15.93 per cent last month from 12.53 per cent in September.
