Home Articles WPI inflation eases to 10.66 pc in Sep on lower food prices
KEY HIGHLIGHTS
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The wholesale price-based inflation eased to 10.66 percent in September, helped by moderating food prices even as crude petroleum witnessed a spike.
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WPI inflation remained in double-digits for the sixth consecutive month. In August, it was 11.39 percent. In September 2020, inflation was 1.32 percent.
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“The high rate of inflation in September 2021 is primarily due to rise in prices of mineral oils, basic metals, non-food articles, food products, crude petroleum & natural gas, chemicals, and chemical products, etc. as compared the corresponding month of the previous year,” the Commerce and Industry Ministry said in a statement.
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Inflation in food articles eased for the fifth straight month, recording (-) 4.69 percent in September from (-) 1.29 percent in August, mainly due to easing vegetable prices. Pulses prices continued to spike at 9.42 percent.
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Inflation in the fuel and power basket was 24.91 percent in September, against 26.09 percent in the previous month.
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The rise in crude petroleum and natural gas prices was 43.92 percent in September over 40.03 percent in the previous month.
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In manufactured products, inflation stood at 11.41 percent during the month.
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The RBI, which mainly takes into account retail inflation in its monetary policy, earlier this month kept interest rates unchanged at record lows.
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Retail inflation in September too slowed to a five-month low of 4.4 percent on moderating food prices.