WPI inflation rises to 4-month high of 2.36 pc in Oct, food prices spike
New Delhi (PTI): Wholesale price inflation rose to a 4-month high of 2.36 per cent in October as prices of food items, especially vegetables, and manufactured goods turned dearer, as per the government data released on Thursday.
The wholesale price index (WPI) based inflation was 1.84 per cent in September 2024. It was (-) 0.26 per cent in October, last year.
As per the data, inflation in food items shot up to 13.54 per cent in October, as against 11.53 per cent in September. This was led by 63.04 per cent inflation in vegetables, as against 48.73 per cent in September.
Inflation in potato and onion remained high at 78.73 per cent and 39.25 per cent, respectively, in October.
Fuel and power category witnessed deflation of 5.79 per cent in October, against a deflation of 4.05 per cent in September. In manufactured items, inflation was 1.50 per cent in October, as against 1 per cent in the previous month.
The month of October witnessed the second consecutive month of rise in WPI inflation print. WPI higher than October's level was recorded last in June 2024, when it was 3.43 per cent.
"Inflation in October, 2024 is primarily due to increase in prices of food articles, manufacture of food products, other manufacturing, manufacture of machinery & equipment, manufacture of motor vehicles, trailers & semi-trailers, etc." the Ministry of Commerce & Industry said in a statement on Thursday.
The consumer price index data released earlier this week showed retail inflation surged to a 14-month high of 6.21 per cent with a sharp rise in prices of food items.
The level is higher than the upper tolerance limit of the Reserve bank of India (RBI), which may make cutting the benchmark interest rates difficult in the policy review meeting in December.
The RBI, which mainly takes into account retail inflation while framing monetary policy, kept benchmark interest rate or repo rate unchanged at 6.5 per cent in its monetary policy review last month.
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Election results 2024: High stakes battle in Maharashtra, Jharkhand as evm’s open today
Mumbai: The stage is set for the high-stakes Maharashtra and Jharkhand assembly elections, as the results will start trickling in from 8 am.
In Maharashtra, the 288-seat assembly contest pitted the ruling BJP-led Mahayuti alliance against the opposition Maha Vikas Aghadi (MVA). The Mahayuti, comprising the BJP, Eknath Shinde-led Shiv Sena faction, and Ajit Pawar’s NCP (Nationalist Congress Party) group, is eyeing a commanding victory, as suggested by most exit polls. The MVA alliance—comprising the Congress, Uddhav Thackeray’s Shiv Sena (UBT), and Sharad Pawar’s NCP is trying to reclaim the state.
Meanwhile, in Jharkhand, the contest for the 81-seat assembly sees the ruling Jharkhand Mukti Morcha (JMM)-led INDIA bloc vying for a second term against the Bharatiya Janata Party (BJP)-led NDA. Chief Minister Hemant Soren’s JMM, along with allies Congress and RJD, faces a stiff challenge from the BJP, AJSU, and smaller partners. With exit polls giving mixed predictions, ranging from an NDA edge to a potential hung assembly.
Additionally, bypoll results in 15 assembly constituencies across states like Uttar Pradesh, Punjab, Kerala, and Uttarakhand will also be announced today.
