Team News Riveting
New Delhi, November 15
The provisional Wholesale Price Index (WPI) based inflation accelerated to a five-month high of 12.54 per cent in October as compared to 10.66 per cent recorded in September.
The surge is reported due to an increase in fuel and manufacturing prices, as per data released by the Ministry of Commerce and Industry on Monday. The benchmark inflation print has remained in double digits for seven months now.
The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT) released Index numbers of wholesale price in India today. The annual rate of inflation is 12.54 per cent (Provisional) for the month of October, 2021 (over October, 2020) as compared to 1.31 per cent in October, 2020. The high rate of inflation in October 2021 is primarily due to rise in prices of mineral oils, basic metals, food products, crude petroleum and natural gas, chemicals and chemical products etc. as compared the corresponding month of the previous year.
The month over month change in WPI index for the month of October, 2021 (as compared to September, 2021) was 2.28 per cent.
Primary Articles index increased by (3.10 per cent) to 159.7 (provisional) in October, 2021 from 154.9 (provisional) for the month of September, 2021. Fuel & Power index increased by (8.72 per cent) to 124.7 (provisional) in October, 2021 from 114.7 (provisional) for the month of September, 2021. Manufactured Products index increased by (0.82 per cent) to 134.9 (provisional) in October, 2021 from 133.8 (provisional) for the month of September, 2021.
The Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group have increased from 159.8 in September, 2021 to 164.8 in October, 2021. The rate of inflation based on WPI Food Index increased from 1.14 per cent in September, 2021 to 3.06 per cent in October, 2021.
The LPG prices went up 54.3 per cent in October 2021 as compared to October 2020 while petrol saw a yearly rise of 64.72 per cent in October this year.
