Here’s Why WPI Inflation Fell to 19-Month Low in Oct, Fuel Inflation Dives
By Malvika Gurung
Investing.com — India’s annual fell to its lowest level in 19 months in October 2022, as per data released by the Ministry of Commerce & Industry on Monday.
The annual wholesale inflation dropped sharply from 10.7% in September 2022 to 8.39% in October, lower than Investing.com’s estimate of 8.7%. The inflation print slipped to a single-digit figure for the first time since March 2021 at 7.89%.
According to government data, the steep decline in WPI inflation for October was led by a fall in commodity prices.
The ministry of commerce and industry attributed the easing inflation print to a drop in the price of mineral oils, basic metals, and fabricated metal products, except machinery and equipment, textiles, minerals and other non-metallic mineral products, among others.
India’s WPI dived to 8.33% YoY in Oct from 11.03% in the previous month and slid to 4.42% from 6.34%, while plunged to 23.17% YoY in Oct from 32.61% in Sept.
The country’s headline retail inflation for October as measured by the will release at 5:30 pm on Monday, and Investing.com expects the annual inflation rate to ease 6.73% from a five-month high of 7.41% in September.
Read Also: Oct CPI Data Today: Timings, Inflation Forecast by Investing.com & Expectations
By Malvika Gurung
Investing.com — India’s annual fell to its lowest level in 19 months in October 2022, as per data released by the Ministry of Commerce & Industry on Monday.
The annual wholesale inflation dropped sharply from 10.7% in September 2022 to 8.39% in October, lower than Investing.com’s estimate of 8.7%. The inflation print slipped to a single-digit figure for the first time since March 2021 at 7.89%.
According to government data, the steep decline in WPI inflation for October was led by a fall in commodity prices.
The ministry of commerce and industry attributed the easing inflation print to a drop in the price of mineral oils, basic metals, and fabricated metal products, except machinery and equipment, textiles, minerals and other non-metallic mineral products, among others.
India’s WPI dived to 8.33% YoY in Oct from 11.03% in the previous month and slid to 4.42% from 6.34%, while plunged to 23.17% YoY in Oct from 32.61% in Sept.
The country’s headline retail inflation for October as measured by the will release at 5:30 pm on Monday, and Investing.com expects the annual inflation rate to ease 6.73% from a five-month high of 7.41% in September.
Read Also: Oct CPI Data Today: Timings, Inflation Forecast by Investing.com & Expectations
