WPI Inflation Rises to 1.84% in September | Food Prices Spike
By Rediff Money Desk, New Delhi Oct 14, 2024 12:42
India's wholesale price inflation (WPI) jumped to 1.84% in September, driven by soaring food prices, particularly vegetables. Read more about the inflation details and its impact.
New Delhi, Oct 14 (PTI) The wholesale price inflation rose to 1.84 per cent in September as food items, especially vegetables, turned costlier, as per the government data released on Monday.
The wholesale price index (WPI)-based inflation was 1.31 per cent in August. It was (-)0.07 per cent in September last year.
Inflation in food items shot up to 11.53 per cent last month against 3.11 per cent in August. This was led by 48.73 per cent inflation in vegetables as against (-)10.01 per cent in August.
Inflation in potato and onion continued to be high at 78.13 per cent and 78.82 per cent, respectively in September.
Fuel and power category witnessed deflation of 4.05 per cent in September against a deflation of 0.67 per cent in August.
"Positive rate of inflation in September 2024 is primarily due to increase in prices of food articles, food products, other manufacturing, manufacture of motor vehicles, trailers & semi-trailers, manufacture of machinery & equipment, etc," the commerce and industry ministry said in a statement.
The Reserve Bank of India (RBI), which mainly takes into account retail inflation while framing monetary policy, kept benchmark interest rate or repo rate unchanged at 6.5 per cent in its monetary policy review earlier this month.
Retail inflation numbers will be released later in the day.
The wholesale price index (WPI)-based inflation was 1.31 per cent in August. It was (-)0.07 per cent in September last year.
Inflation in food items shot up to 11.53 per cent last month against 3.11 per cent in August. This was led by 48.73 per cent inflation in vegetables as against (-)10.01 per cent in August.
Inflation in potato and onion continued to be high at 78.13 per cent and 78.82 per cent, respectively in September.
Fuel and power category witnessed deflation of 4.05 per cent in September against a deflation of 0.67 per cent in August.
"Positive rate of inflation in September 2024 is primarily due to increase in prices of food articles, food products, other manufacturing, manufacture of motor vehicles, trailers & semi-trailers, manufacture of machinery & equipment, etc," the commerce and industry ministry said in a statement.
The Reserve Bank of India (RBI), which mainly takes into account retail inflation while framing monetary policy, kept benchmark interest rate or repo rate unchanged at 6.5 per cent in its monetary policy review earlier this month.
Retail inflation numbers will be released later in the day.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Srestha Finvest
- 0.85 ( -4.49)
- 46994601
- Vodafone Idea L
- 9.09 ( -0.98)
- 25397488
- Standard Capital
- 1.51 (+ 19.84)
- 22161975
- SRU Steels
- 8.03 ( -9.98)
- 16916265
- Jaiprakash Power Ven
- 21.39 ( -4.21)
- 16283018
MORE NEWS
Future Blockchain Summit 2024: Blockchain &...
The Future Blockchain Summit 2024 brought together global blockchain and cryptocurrency...
TAC Security Partners with Google as MASA Assessor
TAC InfoSec Ltd, a global cybersecurity company, has partnered with Google as an...
Bengaluru Airport City Launches 2 Million Sq....
Bengaluru Airport City breaks ground for a new 2 million sq. ft. business park, aiming...