Insta
Wholesale Inflation Falls To 2.6 Per Cent In September
An Indian woman checks the price of pulses and grains at a wholesale market in New Delhi. (MANAN VATSYAYANA/AFP/Getty Images)
Wholesale inflation fell to 2.60 per cent in September as prices of food articles, led by vegetables, softened.
Inflation, based on the wholesale price index (WPI), had soared to a four-month high of 3.24 per cent in August 2017. It was 1.36 per cent in September 2016.
The government data showed that inflation in food articles tapered to 2.04 per cent in September, as against 5.75 per cent in August on a yearly basis.
Inflation in vegetable prices cooled to 15.48 per cent in September, as against a high of 44.91 per cent in the previous month. Onion prices, however, continued to rule high with 79.78 per cent increase in September. In egg, meat and fish segment the rate of price rise was 5.47 per cent. Pulses continued to witness deflation at 24.26 per cent, likewise in potato at 46.52 per cent and wheat at 1.71 per cent.
Inflation in manufactured products witnessed a slight increase at 2.72 per cent, against 2.45 per cent in August.
In fuel and power segment, inflation cooled to 9.01 per cent, against 9.99 per cent in August. Fuel inflation has remained high in the past two months as petrol and diesel prices continued to rule high relentlessly on global crude oil rates, while power tariffs shot through the roof on lower domestic production.
The final print of July WPI inflation remained unchanged from the provisional estimate of 1.88 per cent. Data showed retail inflation at 3.28 per cent in September, unchanged from August, even as vegetable and cereal prices softened.
Besides industrial production grew at a nine-month high of 4.3 per cent in August, mainly on account of robust performance of mining and power sectors coupled with higher capital goods output.
Earlier this month, the Reserve Bank kept benchmark interest rate unchanged on fears of rising inflation while lowering growth forecast to 6.7 per cent for the current fiscal. It also raised its inflation forecast to a range of 4.2 to 4.6 per cent during the remainder of current fiscal as against 4 to 4.5 per cent previously. (PTI)
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
