Indian WPI at 1.32% for September 2020; Wholesale Inflation Rises for Three Months Straight

New Delhi, October 14: The rise in prices of consumer goods, including perishable and durable products, has resulted in an increase in the wholesale price inflation for September in India. The Wholesale Price Index (WIP) now stands at 1.32 percent.

On a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry has risen by only 0.33 percent during the corresponding period of the previous financial year.

This is for the third consecutive month that the WPI has risen. The WPI stood at (-)1.81 percent in June 2020, which increased to (-)0.25 percent in July and to 0.16 percent in August.RBI Keeps Repo Rate Unchanged at 4% Amid High Inflation.

"The annual rate of inflation, based on monthly WPI, stood at 1.32 percent (provisional) for September 2020 (over September 2019) as compared to 0.33 percent during the corresponding month of the previous year," the Ministry said in its review of 'Index Numbers of Wholesale Price in India' for September.

On a sequential basis, the expenses on primary articles, which constitute 22.62 percent of the WPI's total weight, increased by 5.10 percent from 1.60 percent in August 2020. Furthermore, the prices of food items remained at elevated levels with a rise of 6.92 percent from 4.07 percent reported for August.  Indian Economy Projected to Contract by 10.3 Pc in 2020, Grow 8.8 Pc in 2021: IMF.

 Another set of data showed that India's sequential retail price inflation spiked in September to 7.34 percent from 6.69 percent in August. Though non-comparable, India had recorded retail price inflation of over three percent in the corresponding period of the previous financial year.

(The above story first appeared on LatestLY on Oct 14, 2020 06:23 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).