India WPI Down Further in October

Indian annual wholesale price inflation was recorded at 1.77 percent in October, slowing further from a 2.38 percent increase in September. It is the lowest rate since October of 2009, mainly due to a fall in prices of food and petrol.

Year-on-year, food prices rose 2.7 percent in October, down from a 3.52 percent increase in September. Among food prices, the biggest increases were reported for cost of: potatoes (+82.11 percent), fruits (+19.35 percent) and milk (+11.39 percent). In contrast, vegetable cost fell 19.61 percent, prices of egg, meat and fish dropped 2.58 percent and onion cost decreased 59.77 percent.

In October, cost of manufactured products grew by 2.45 percent from 2.84 percent in the previous month. Petrol prices fell 7.03  percent, while cost of diesel increased by 8.53 percent.

On a monthly basis, wholesale prices declined 0.6 percent, following a 0.4 percent fall in September.

India WPI Down Further in October

Office of Economic Adviser l Rida l
11/14/2014 8:27:43 AM