New Delhi, Nov 14
India’s inflation rate, based on the Wholesale Price Index (WPI), rose to 2.36% in October this year, compared to the same month of the previous year on the back of higher food prices, figures released by the Commerce and Industry Ministry on Thursday showed.
Inflation in October has risen from 1.84 per cent in September, primarily due to an increase in prices of food articles which jumped by 13.57 per cent during the month as vegetables such as potatoes and onions turned costlier following the damage to crops caused by the late withdrawal of the monsoon.
The wholesale price inflation in manufactured goods, which have a weightage of over 64 per cent in the index, rose by 1.5 per cent. There was a decline in prices in the fuel and power category with the inflation rate at a negative (-) 5.79 per cent, according to the official figures.
Data released on Tuesday showed the country’s retail price inflation based on the Consumer Price Index (CPI) rose to 6.21 per cent in October as higher prices of food items such as vegetables spiked during the month. Retail inflation has increased from 5.49 per cent recorded in September as the prices of vegetables surged by as much as 42.18 per cent in October as the late withdrawal of the monsoon this year resulted in damage to crops and reduced supply in the market.