High food, primary articles and manufactured goods’ prices accelerated India’s September wholesale inflation.
Consequently, the annual rate of inflation based on wholesale prices rose to 1.32 per cent in September from 0.16 per cent in August from (-) 0.25 per cent in July.
On a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry has risen by only 0.33 per cent during the corresponding period of the previous year.
“The annual rate of inflation, based on monthly WPI, stood at 1.32 per cent (provisional) for the month of September, 2020 (over September, 2019) as compared to 0.33 per cent during the corresponding month of the previous year,” the Ministry said in its review of ‘Index Numbers of Wholesale Price in India’ for September.
On a sequential basis, the expenses on primary articles, which constitute 22.62 per cent of the WPI’s total weightage, increased 5.10 per cent from 1.60 per cent in August 2020.
Furthermore, the prices of food items remained at elevated levels with a rise of 6.92 per cent from 4.07 per cent reported for August.
On Monday, another set of data showed that India’s sequential retail price inflation spiked in September to 7.34 per cent from 6.69 per cent in August.
Though non-comparable, India had recorded a retail price inflation of over three per cent in the corresponding period of previous year.
