WPI inflation rises to 4-mth high of 2.36% in Oct

New Delhi: Wholesale price inflation rose to a 4-month high of 2.36 per cent in October as prices of food items, especially vegetables, and manufactured goods turned dearer, showed the government data released on Thursday. The wholesale price index (WPI) based inflation was 1.84 per cent in September 2024. It was (-) 0.26 per cent in October last year. As per the data, inflation in food items shot up to 13.54 per cent in October, as against 11.53 per cent in September. This was led by 63.04 per cent inflation in vegetables, as against 48.73 per cent in September. Inflation in potato and onion remained high at 78.73 per cent and 39.25 per cent, respectively, in October. Fuel and power category witnessed deflation of 5.79 per cent in October, against a deflation of 4.05 per cent in September. In manufactured items, inflation was 1.50 per cent in October, as against 1 per cent in the previous month.

The month of October witnessed the second consecutive month of rise in WPI inflation print. WPI higher than October's level was recorded last in June 2024, when it was 3.43 per cent. “Inflation in October 2024 is primarily due to increase in prices of food articles, manufacture of food products, other manufacturing, manufacture of machinery & equipment, manufacture of motor vehicles, trailers & semi-trailers, etc.” the Ministry of Commerce & Industry said in a statement. Barclays Regional Economist Shreya Sodhani said perishable food prices, particularly vegetables, are driving both retail and wholesale prices. Manufactured products WPI rose moderately, reflecting the rise in prices of metals in the month.