India’s wholesale price inflation (WPI) in October fell to a 20-month low 8.39 per cent year-on-year, since March 2021.
It was also less compared to 10.70 per cent in September, mainly due to a slide in commodity prices.
This was also the first time that the WPI fell below a double-digit mark in 18 months.
The WPI had soared to 15.88 per cent in May 2022. In October 2021, it 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,” an official statement said.
Inflation in primary articles was 11.04 per cent, while food articles inflation rose to 8.33 per cent from 0.06 per cent in October 2021.