WPI inflation eases to 10.7pc in September | Job Binary

The inflation based on wholesale prices It fell for the fourth month in a row to 10.7 percent in September due to softening food, fuel and manufacturing prices.

Based on the Wholesale Price Index inflation It was 12.41% in August and 11.80% in September last year. This year, the Wholesale Price Index (WPI) touched a record of 15.88% in May.

September is the 18th consecutive month of double-digit WPI inflation.

“September 2022 is mainly caused by the increase in the prices of mineral oil, food, crude oil and natural gas, chemicals and chemical products, base metals, electricity, textiles, etc., compared to the previous month.” the official statement said.

Food inflation dropped to 11.03% in September, compared to 12.37% in August.

However, vegetable inflation rose to 39.66% in the month, from 22.29% in August.

In the fuel and power basket, inflation fell by 32.61% in September, compared to 33.67% in August.

Manufactured products and oilseeds accounted for 6.34 percent and (-) 16.55 percent, respectively.

The RBI it mainly looks at retail inflation to guide monetary policy.

Retail inflation remained above Reserve BankIt was the ninth straight month above the upper tolerance threshold of 6 percent and a 5-month high of 7.41 percent in September, according to data released earlier this week.

To tame high inflation, the RBI has raised the key interest rate four times this year to 5.90 percent, the highest since April 2019.


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