New Delhi: Data released by government revealed that the wholesale price-based inflation declined in October. The WPI-Inflation declined to 8.39% year-on-year.
Wholesale Price Index (WPI) is the lowest since March 2021 and below a double-digit rise for the first time in 18 months. WPI inflation has been in double digits since April 2021. It was at 10.79% in September and 13.83% in October 2021. This year the WPI touched a record high of 15.88% in May.
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Food inflation was at 8.33% in October. It was at 11.03% in September. Vegetable inflation was 17.61% in October. It was at 39.66% in September. Wholesale inflation in October was 4.42% for manufactured goods and 23.17% for the ‘Fuel and Power’ basket.
Wholesale Price Index (WPI) is a measure of the average change in the price of goods at a wholesale level or in the wholesale market. Consumer Price Index (CPI) is another price index that calculates price changes of goods and services that a consumer has to pay in the retail market. The monetary police of Reserve Bank of India is made after reviewing the CPI.
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