Decline seen in wholesale inflation rate
On one hand, the government has started a direct attack on inflation by selling cheap onions, tomatoes, flour and pulses. On the other hand, inflation is continuously decreasing in the country. After the retail inflation rate remained low, now the wholesale inflation rate has also declined. According to government data, the wholesale inflation rate has declined for the 7th consecutive month in the month of October.
The wholesale inflation rate based on Wholesale Price Index (WPI) has registered a decline of 0.52 percent during October. The wholesale inflation rate has remained in the negative zone since April. In the month of September also a decline of 0.26 percent was recorded. In October last year, the wholesale inflation rate was 8.67 percent.
Reduction in prices of food items
There has also been a decline in the prices of food items in the month of October. The wholesale food inflation rate in October was 2.53 percent, which was 3.35 percent last month. Whereas in October last year it was at 8.45 percent.
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Among food items, the highest inflation was seen in the prices of onion by 62.60 percent and in the prices of pulses by 19.43 percent. Whereas the prices of potatoes have fallen the most by 29.27 percent. The prices of other vegetables have also fallen by 21.04 percent.
Retail inflation also remained soft
Retail inflation in October also remained soft for the fifth consecutive month. Its figures were released only on Monday. The retail inflation rate in the country was 4.87 percent in October. Whereas in September it was 5.02 percent. Whereas in October last year it was 6.77 percent. When the Reserve Bank of India reviews the monetary policy of the country, this retail inflation is kept in mind. The retail inflation rate in October is less than the RBI’s upper limit of 6 percent, but it is higher than its desirable rate of 4 percent.
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