India WPI Data October 2022: India’s wholesale inflation dips under double-digit mark at 8.39% in October

India Wholesale Price Index(WPI) Data, October 2022: The nation’s wholesale inflation eased to eight.39 per cent in October from 10.70 per cent in September, information launched by the Ministry of Commerce & Industry confirmed.

The wholesale inflation has dropped under the double-digit mark for the primary time since March 2021 when it was at 7.89 per cent. The wholesale value index (WPI) print got here above the double-digit mark for 18 straight months from April 2021 to September 2022.

The WPI for the month of August was revised to 12.48 per cent from 12.41 per cent, the information confirmed. The WPI in October 2021 was 13.83 per cent.

“Decline 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.,” the ministry mentioned in its launch.

The meals articles section eased to eight.33 per cent in October, the information confirmed. In the earlier month, this was 11.03 per cent. The month-on-month easing will be attributed to the easing in costs of greens, potatoes, onions, fruits and milk.

Vegetable costs eased to 17.61 per cent final month, towards 39.66 per cent in September, the information confirmed. Potato costs eased to 44.97 per cent from 49.79 per cent a month in the past and that of onions slipped (-)30.02 per cent in October from (-)20.96 per cent within the prior month. Fruit costs eased to 0.23 per cent final month, towards 4.51 per cent in September whereas milk costs dipped to five.53 per cent from 5.55 per cent, the information confirmed.

On the opposite hand, costs of cereals spiked to 12.03 per cent final month from 11.91 per cent in September. During the identical interval, paddy rose to six.63 per cent from 5.79 per cent and that of wheat rose to 16.25 per cent from 16.09 per cent. Eggs, meat & fish rose to three.97 per cent from 3.63 per cent a month in the past.

The gas and energy section eased to 23.17 per cent final month from 32.61 per cent in September. LPG costs eased to 4.82 per cent from 8.45 per cent month in the past, HSD (High-Speed Diesel) slipped to 43.05 per cent from 65.96 per cent and petrol costs dipped to 25.02 per cent from 40.38 per cent.

The manufactured merchandise section eased to 4.42 per cent in October from 6.34 per cent month in the past.

The authorities will launch the extra carefully watched retail inflation measured by the Consumer Price Index (CPI) later within the day.