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WPI inflation increases to six-month high of 3.6% in October 2017

15 November 2017

Daily grocery bills have been rising in the past few months, and are likely to get even dearer, as wholesale inflation or Wholesale Price Index (WPI) touched six-month high of 3.59 percent in October as against 2.60 percent in September.

The annual rate of inflation based on the wholesale price index (WPI) stood at 3.59 per cent in October 2017, against 2.60 per cent in the previous month and 1.27 per cent during the corresponding month of the previous year, provisional figures released by the Central Statistics Office (CSO) showed.

The consumer price index (CPI) inflation for October rose to 3.58 per cent from 3.28 per cent reported for September.

Inflation of primary articles jumped to 3.3% in October 2017 from 0.2% in September 2017.

For vegetables, it soared to 36.61 per cent last month as against 15.48 per cent in September.

However, inflation in manufactured products saw a slight dip to 2.62 percent, as against 2.72 percent in September.

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"Retail inflation at 3.58%".

The data released by the ministry of commerce and industry on Tuesday showed that inflation in food articles more than doubled to touch 4.30 percent in October.

Protein-based food items such as eggs, meat and fish became expensive by 5.76 per cent during the month under review.

Inflation rate for the "mineral oils" group rose 3.9 per cent due to higher prices of LPG, naphtha, petroleum coke, ATF, furnace oil, kerosene, bitumen, HSD and petrol. However, the price of beedi was up by 4 per cent. In case of onions, prices rose by 127.04 per cent in October against 79 per cent rise seen in September.

For the "manufactured apparel" group, it rose 0.4 per cent due to higher prices of knitted and crocheted apparel.

"Some abatement in prices of pulses, potato and sugar through policy measures is very much appreciated; similarly, policymakers should check and address prices of products including paddy that are hovering at higher levels and are also of national importance", said Rawat. Nearly all commodity prices go up with an increase in price of fuel. "However, this is due to adverse weather conditions and the situation should ease out in the coming months", said Ficci President Pankaj Patel.

WPI inflation increases to six-month high of 3.6% in October 2017