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India's WPI inflation spikes to 5.28% in October
For October-March, the RBI has fixed Consumer Price Index (CPI)-based retail inflation to be between 3.9-4.5 percent.
New Delhi: India's annual rate of inflation based on wholesale prices rose to a four-month high of 5.28 percent in October from 5.13 percent in September, on Wednesday.
The rise in Inflation is said to be due to the hike in petrol and diesel prices, though the food prices have softened.
Last year, the Wholesale Price Index (WPI)-based inflation was 5.13 percent in September and 3.68 percent in October.
Here is the list of articles that faced deflation/inflation in the month of October:
- Where the government data showed deflation in food article's prices at 1.49 percent in October, against 0.21 percent in September, vegetables too witnessed softening in price with deflation at 18.65 percent in October, against 3.83 percent last month.
- Inflation in ‘fuel and power’ witnessed a rise in October at 18.44 percent than 16.65 percent in September. Individually, inflation for petrol, diesel and liquefied petroleum gas (LPG) was 19.85 percent, 23.91 percent and 31.39 percent respectively, during October.
- Among food articles, potato prices continued to rule high with 93.65 percent inflation in October.
- Onion witnessed deflation of 31.69 percent, pulses also stood at 13.92 percent.
- The WPI inflation is in contrast to the retail or consumer price index-based inflation data released earlier this week.
It is to be mentioned that for formulating monetary policy 'The Reserve Bank of India' (RBI) mainly takes into account retail inflation data.
For October-March, the RBI has fixed Consumer Price Index (CPI)-based retail inflation to be between 3.9-4.5 percent.
