Inflation has jumped in October. According to government data, wholesale price inflation rose to 2.36 percent in October, the highest level in 4 months. Data released on Thursday showed that prices of food items, especially vegetables and manufactured goods, have become expensive in the last month. According to PTI news, Wholesale Price Index (WPI) based inflation was 1.84 percent in September 2024. In October last year it was (-) 0.26 percent.
Vegetable prices on fire
According to the data, food inflation rose to 13.54 per cent in October, compared to 11.53 per cent in September. Inflation in vegetables stood at 63.04 percent, whereas in September it was 48.73 percent. Inflation of potato and onion remained high at 78.73 per cent and 39.25 per cent respectively in October.
This change was seen in fuel and electricity
According to the news, the fuel and power category saw a deflation of 5.79 per cent in October, compared to 4.05 per cent in September. In manufactured goods, inflation stood at 1.50 per cent in October, compared to 1 per cent in the previous month. Wholesale inflation witnessed an increase for the second consecutive month in October. WPI higher than October level was last recorded in June 2024, when it was 3.43 per cent.
Retail inflation at 14-month high
The Ministry of Commerce and Industry said in a statement on Thursday that inflation in October, 2024 will mainly be due to increase in prices of food articles, manufacture of food products, other manufacturing, construction of machinery and equipment, motor vehicles, trailers and semi-trailers etc. Will be due to. Consumer price index data released earlier in the week showed retail inflation hitting a 14-month high of 6.21 per cent on the back of a sharp rise in food prices. This level is higher than the upper tolerable limit of the Reserve Bank of India (RBI), which may make it difficult to cut benchmark interest rates at the policy review meeting in December.
