Business Economy 15 Nov 2017 Wholesale inflation ...

Wholesale inflation hits 6-month high due to food

DECCAN CHRONICLE.
Published Nov 15, 2017, 12:36 am IST
Updated Nov 15, 2017, 12:36 am IST
Wholesale inflation was at 2.60 per cent in September.
Vegetable inflation in September had risen by 15 per cent. In eggs, meat and fish segment, the rate of price rise was 5.76 per cent.
 Vegetable inflation in September had risen by 15 per cent. In eggs, meat and fish segment, the rate of price rise was 5.76 per cent.

New Delhi: Inflation, based on the wholesale price index (WPI) rose sharply to a 6-month high of 3.59 per cent in October as prices of food items and fuel jumped steeply.

Wholesale inflation was at 2.60 per cent in September. This comes when data released on Monday showed that retail inflation in October also rose to a 7-month high of 3.58 per cent due to costlier food items, especially vegetables.

 

Inflation in food articles more than doubled to 4.30 per cent in October from 2 per cent in September. In case of onions, prices rose by 127.04 per cent in October against 79 per cent rise seen in September.

Vegetable wholesale prices too shot up by 36.61 per cent in October hitting the common man. Vegetable inflation in September had risen by 15 per cent.
In eggs, meat and fish segment, the rate of price rise was 5.76 per cent.

However, inflation in manufactured products saw a slight dip to 2.62 per cent, as against 2.72 per cent in September. In the fuel and power segment, inflation rose to 10.52 per cent, as against 9.01 per cent in September. Fuel inflation has remained high for the past three months as petrol and diesel prices continued to rule high, tracking global crude oil rates.

 

Economic affairs secretary S.C. Garg attributed the rise in both wholesale and retail inflation numbers to seasonal factors and expressed hope that the rate of price rise would remain below the 4 per cent limit for the fiscal.

“Retail inflation at 3.58 per cent. Wholesale price inflation at 3.59 per cent. Inflation riding from last month’s levels largely on account of food especially vegetables and protein products,” Mr Garg tweeted.

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