India`s WPI remains in negative territory for 7th month in a row in October
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Wholesale price inflation (WPI) remained in the negative territory for the seventh month in a row in October 2023 at (-) 0.52 per cent on easing prices of food items. 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 Component wise, primary articles index, having weight of 22.62%, increased by 1.15% to 184.5 (provisional) in October, 2023 from 182.4 (provisional) for the month of September, 2023. Prices of Minerals and Food Articles increased in October, 2023 as compared to September, 2023. Prices of Crude Petroleum & Natural Gas and Non-food Articles declined in October, 2023 as compared to September, 2023.
Fuel & Power index, having weight of 13.15%, increased by 0.65% to 154.1 (provisional) in October, 2023 from 153.1 (provisional) in the month of September, 2023. Prices of Mineral Oils increased in October, 2023 as compared to September, 2023. Prices of Electricity declined in October, 2023 as compared to September, 2023.
Besides, Manufactured Products constituting the major portion of the index with weight of 64.23%, remained constant at 140.3 (provisional) in October, 2023 and September, 2023. Meanwhile, for the month of August, 2023 the final Wholesale Price Index and inflation rate for 'All Commodities' (Base Year: 2011-12=100) stood at 152.5 and -0.46% respectively.
