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

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

WPI inflation remained in double-digit for the sixth consecutive month. In August, it was 11.39%. In September 2020, inflation was 1.32%

The wholesale price-based inflation eased to 10.66% in September, helped by moderating food prices even as crude petroleum witnessed a spike.

WPI inflation remained in double-digit for the sixth consecutive month. In August, it was 11.39%. In September 2020, inflation was 1.32%.

“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% in September from (-)1.29% in August, mainly due to easing vegetable prices. Pulses prices continued to spike at 9.42%.

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

The rise in crude petroleum and natural gas prices was 43.92% in September over 40.03% in the previous month.

In manufactured products, inflation stood at 11.41% 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% on moderating food prices.

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