India's Wholesale Price Inflation Rises to 12.54% in October 2021
Accordingly, the annual rate of inflation, based on wholesale prices, rose to 12.54 per cent last month from 10.66 per cent in September. Similarly, on a YoY basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry has risen exponentially over October 2021, when it stood at 1.31 per cent.
New Delhi, November 15: Higher prices of primary goods along with food articles and fuel cost stiffened India's October 2021 wholesale inflation on a sequential and year-on-year basis. Accordingly, the annual rate of inflation, based on wholesale prices, rose to 12.54 per cent last month from 10.66 per cent in September. Similarly, on a YoY basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry has risen exponentially over October 2021, when it stood at 1.31 per cent.
"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 to the corresponding month of the previous year," the ministry said in its review of 'Index Numbers of Wholesale Price in India' for October. Retail Inflation Rises Marginally to 4.48% in October Due to Increase in Fuel Prices.
"The month over month change in WPI index for the month of October, 2021 (as compared to September, 2021) was 2.28 per cent."
(The above story first appeared on LatestLY on Nov 15, 2021 06:33 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).