India’s wholesale inflation rate rises to 12.54% on annual basis

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New Delhi: 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 percent last month from 10.66 percent in September

Similarly, on a YoY basis. the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry rose exponentially over October 2021, when it stood at 1.31 percent.

“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 ministry said in its review of “Index Numbers of Wholesale Price India for October. The month over month change in WPI index for the month of October 2021 (as) compared to September. 2021) was 2:28 percent.”

Source: IANS