The wholesale price index-based inflation remained in the negative territory for the seventh straight month in October at (-) 0.52 per cent, on easing prices of food items.
The WPI-based inflation rate has been in the negative zone since April and was at (-) 0.26 per cent in September, 2023.
In October last year, WPI was at 8.67 per cent.
Inflation in food articles eased to 2.53 per cent in October. It was 3.35 per cent in the previous month.
“The negative rate of inflation in October, 2023, is primarily due to fall in prices of chemicals and chemical products, electricity, textiles, basic metals, food products, paper and paper products, etc. as compared to the corresponding month of previous year,” the commerce and industry ministry said on Tuesday.
The fuel and power basket inflation was at (-) 2.47 per cent in October, against (-) 3.35 per cent in September.
In manufactured products, the inflation rate was at (-) 1.13 per cent, as against (-) 1.34 per cent in September. The annual retail or consumer price inflation for October hit a 5-month low of 4.87 per cent, data released on Monday showed.
Retail Inflation
India’s retail inflation, based on the Consumer Price Index (CPI), in October 2023 eased to a five-month low of 4.87 per cent, according to the latest official data released on November 13.
The 4.87 per cent CPI inflation is closer to the Reserve Bank of India’s (RBI) medium-term target of 4 per cent.
Retail inflation in rural areas stood at 5.12 per cent in October, while that in the urban regions at 4.62 per cent.
According to the data released by NSO, the retail inflation in the food basket, however, rose to 6.61 per cent in October as compared with the 6.56 per cent recorded in the preceding month of September 2023.
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