India's WPI-based inflation shrinks for 7th consecutive month in Oct

15 Nov '23

1 min read

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At minus 0.52 per cent in October, India's wholesale price index-based inflation stayed in the deflationary zone for the seventh consecutive month.
A key driver for the lower figure was the manufactured products category, which did not see any sequential price change.
Apparel (0.7 per cent) was among the products that clocked the largest sequential gains.

At minus 0.52 per cent in October, India's wholesale price index (WPI)-based inflation stayed in the deflationary zone for the seventh consecutive month, according to commerce ministry data. It was minus 0.26 per cent in September and 8.67 per cent in October last year.

The all-commodity index of the WPI also rose month on month MoM in October, but by a smaller magnitude of 0.4 per cent compared to 0.7 per cent for the consumer price index (CPI).

One of the key drivers for lower WPI inflation in October was the manufactured products category, which comprises nearly two-thirds of the WPI but did not see any sequential change in prices.

Apparel (0.7 per cent) was among the manufactured products that clocked the largest sequential gains.

The headline retail inflation fell to a five-month low of 4.87 per cent in October, down by 257 basis points from July's 15-month high of 7.44 per cent, the ministry said recently. Over the same period, WPI inflation has risen by just 71 basis points.

Fibre2Fashion News Desk (DS)

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