India’s wholesale price inflation hits a 4-month high of 5.28% in October
15 Nov 2018
The annual rate of inflation based on the wholesale price index for October 2018 rose to over 4-month high of 5.28 per cent amidst a spike in energy prices, although food prices have remained mostly low.
WPI inflation stood at 5.13 per cent in September and 3.68 per cent in October last year, government data released today showed.
Inflation rate for the `primary articles’ group, which has a weight of 22.62 per cent in the WPI, rose 0.7 per cent in October 2018.
Among primary articles, inflation rate for the ‘food articles’ group rose 0.9 per cent due to higher prices of cereals and pulses as well as fruits and vegetables and meat.
Inflation rate for the ‘non-food articles’ group declined by 1.1 per cent due to lower prices of oilseeds, flowers, raw hides, wool jute, cotton etc.
Inflation rate for the ‘minerals’ group declined by 4.3 per cent due to lower prices of sillimanite, copper concentrate, iron ore, chromite and limestone. However, the price of manganese ore and lead concentrate moved up.
Inflation rate for the 'crude petroleum and natural gas' group rose 4.1 per cent due to higher price of crude petroleum.
Inflation rate for the fuel and power group, which has a weight of 13.15 per cent in the WPI, rose 3.6 per cent due to higher prices of bitumen, furnace oil, naphtha, ATF, LPG, kerosene, HSD, petrol and petroleum coke, while inflation rate for the coal group rose 0.2 per cent due to higher price of coking coal.
Inflation rate for the `manufactured products’ group, which has a weight of 64.23 per cent in WPI, rose 5.4 per cent in October 2018.
Inflation rate for the `food articles’ group rose 0.9 per cent while inflation rate for the ‘non-food articles’ group declined by 1.1 per cent. Inflation rate for the manufactured food products group rose 0.1 per cent.
Meanwhile, data on retail inflation showed that it fell to a one-year low of 3.31 per cent in October on the back of cheaper kitchen staples, fruits and protein-rich items.
The inflation based on the Consumer Price Index (CPI) was 3.7 per cent in September 2018 and 3.58 per cent in October 2017. The retail inflation number is the lowest since September 2017 when it touched 3.28 per cent.