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PI inflation in Oct at 0.16 per cent against 0.33 per cent in Sept
Economy

PI inflation in Oct at 0.16 per cent against 0.33 per cent in Sept

Agency News

New Delhi, Nov 14: The annual rate of inflation based on monthly Wholesale Price in India (WPI) stood at 0.16 per cent for October 2019 compared to 0.33 per cent for September.

Build up inflation rate in the financial year so far was 1.92 per cent compared to a build up rate of 4.90 per cent in the corresponding period of the previous year, according to Ministry of Commerce & Industry on Thursday. The rate of inflation based on WPI Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group increased to 7.65 per cent in October 2019 from 5.98 per cent in September 2019.

The index for 'Food Articles' group rose by 3.2 per cent due to higher price of fruits and vegetables. The index for ' Non-Food Articles' group declined by 0.3 per cent while for 'Minerals' group declined by 3.2 per cent. The index for 'Crude Petroleum & Natural Gas' group declined by 0.7per cent due to lower price of natural gas. However, the price of crude petroleum moved up. The index for Fuel and Power rose by 1.9 per cent while for 'Mineral Oils' group rose by 2.8 per cent.

The index for 'Electricity' group rose by 1.6 per cent due to higher price of electricity. The index for 'Manufacture of Food Products' group rose by 0.7 per cent due to higher price of honey, powder milk among others. The index for 'Manufacture of Beverages' group declined by 0.6 per cent due to lower price of aerated drinks and soft drinks. However, the price of bottled mineral water moved up by 1 per cent.

The index for 'Manufacture of Tobacco Products' group rose by 0.8 per cent due to higher price of other tobacco products. The index for 'Manufacture of Motor Vehicles, Trailers and Semi-Trailers' group rose by 1.5 per cent due to higher price of seat for motor vehicles, engine, crankshaft and silencer among others. (UNI)