WPI inflation rate of India declines to 8.39% in Oct

New Delhi, Nov 14 (KNN) The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 8.39% (Provisional) for the month of October, 2022 (over October, 2021) against 10.70% recorded in September, 2022.

Decrease in the rate of inflation in October, 2022 is primarily contributed by fall in the price of mineral oils, basic metals, fabricated metal products, except machinery and equipment; textiles; other non-metallic mineral products; minerals etc, said the official statement.

The month over month change in WPI index for the month of October, 2022 stood at 0.26 % as compared to September, 2022.

The index for primary articles increased by 2.72% to 181 (provisional) in October, 2022 from 176.2 (provisional) for the month of September, 2022.

Prices of Crude Petroleum & Natural Gas (17.48%) and Food Articles (2.03%) increased in October, 2022 as compared to September, 2022.

Prices of Non-food Articles (-0.53%) and Minerals (-3.78%) declined in October, 2022 as compared to September, 2022.

The index for Fuel & Power declined by 1.65% to 155.2 (provisional) in October, 2022 from 157.8 (provisional) for the month of September, 2022.

Prices of Coal (2.60%) increased in October, 2022 as compared to September, 2022. Prices of Mineral Oils (3.09%) declined in October, 2022 as compared to September, 2022. Prices of electricity remain unchanged.

The index for Manufactured Products declined by 0.42% to 141.9 (provisional) in October, 2022 from 142.5 (provisional) for the month of October, 2022.

Out of the 22 NIC two-digit groups for manufactured products, 6 groups that have witnessed an increase in prices while 14 groups have witnessed a decrease in prices.

Index of 2 groups remained unchanged. The increase in price is mainly contributed by printing and reproduction of recorded media; other transport equipment; rubber and plastic products; pharmaceuticals, medicinal chemical and botanical products; computer, electronic and optical products etc.

Some of the groups that have witnessed decrease in prices are basic metals; fabricated metal products, except machinery and equipment; textiles; other non-metallic mineral products, motor vehicles, trailers and semi-trailers in October, 2022 as compared to September, 2022.  (KNN Bureau)