Wholesale inflation eases to 10.7% for September 2022: Govt

The Food Index consisting of 'Food Articles' from Primary Articles group and 'Food Product' from Manufactured Products group have decreased from 176.0 in August, 2022 to 175.2 in September, 2022, the government said.

The annual inflation rate based on wholesale price index (WPI) on Friday eased to 10.7 per cent for September, down from 12.41 per cent recorded in August, the government said.

In a statement, the government said that the food index which comprises ‘food articles' from primary articles group and ‘food product’ from manufactured products group decreased from 176.0 in August to 175.2 last month.

The government said that the inflation rate based on WPI food index decreased from 9.93 per cent in August to 8.08 per cent in September.

The inflation last month is due to rise in prices of mineral oils, food articles, crude petroleum and natural gas, chemicals and chemical products, basic metals, electricity, textiles etc.

Wholesale inflation eases to 10.7% for September 2022: Govt

According to the government data, inflation on food articles last month eased to 11.03 per cent as compared to the August figures of 12.37 per cent. On the other hand, inflation in vegetables rose to 39.66 per cent in September against 22.29 per cent the month before.

As far as fuel prices are concerned, inflation eased to 32.61 per cent in September against 33.67 per cent in August. For manufactured products and oil seeds, inflation was 6.34 per cent and (-)16.55 per cent respectively.

On Wednesday, the Reserve Bank of India announced that the retail inflation had surged to 7.41 per cent year on year (YoY), due to surge in food prices. The central bank has already raised the key interest rate four times this year to 5.90 per cent in a bid to tame the high inflation.

Reserve Bank of India governor Shaktikanta Das during the monetary policy briefing had said the global economy is in the eye of storm but India withstood shocks over the last two years.