Indian Wholesale Inflation Accelerates to 7% in October
In October of 2013, India’s annual headline inflation rose for the fifth straight month to an eight-month high of 7 percent, mainly due to higher prices of fuel and manufactured goods.
The index for food prices eased to an annual 18.19 percent slower than the annual rise of 18.4 percent in September. On a monthly basis, it declined 0.4 percent due to lower prices of ragi and maize (5 percent each), tea (4 percent) and poultry chicken, fruits and vegetables and fish-marine (3 percent each).
Energy costs were up 10.33 percent year-on-year, slightly up from 10 percent in the previous month. On a monthly basis, it increased 0.9 percent.
Prices of manufactured goods accelerated to 2.5 percent, up from 2 percent in September. From September to October, it went up 0.4 percent.
Month-over-month, prices rose 0.3 percent.
Build up inflation rate in the financial year so far was 6 percent compared to a build up rate of 4.66 percent in the corresponding period of the previous year.
11/14/2013 8:06:17 AM