India's WPI inflation falls to single digit in October

The month-on-month change in WPI index for October 2022 stood at 0.26 per cent as compared to September 2022.

“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,” the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT), under the ministry of commerce and industry, said.

The official WPI for all commodities (Base: 2011-12 = 100) for the month of October 2022 was 152.5 compared to previous month’s 152.1.

The index for manufactured products (weight 64.23 per cent) for October 2022 decreased to 141.9 from 142.5 for the month of September 2022. The index for ‘Manufacture of Textiles’ sub-group too decreased to 143.4 from previous month’s 145.0. Likewise, the index for ‘Manufacture of Wearing Apparel’ fell to 149.3 from previous month’s 149.9.

The index for primary articles (weight 22.62 per cent) increased to 181 in October from previous month’s 176.2, while the index for fuel and power (weight 13.15 per cent) decreased to 155.2 from 157.8 in September 2022.

Meanwhile, the National Statistics Office, under the ministry of statistics and programme implementation, has announced that it will release the figures for the all-India inflation rate for consumer price index (CPI) for the month of October 2022, on Monday, December 12, 2022.

Fibre2Fashion News Desk (RKS)