Wholesale inflation rises to 5.13% in September
The consumer price index (CPI) inflation rate for September 2018 stood at 3.77 percent against August’s 3.69 percent, on higher food and fuel costs, and pushed up by a battered rupee.
India's wholesale price index (WPI) based inflation rose to 5.13 percent in September 2018 as against 4.53 percent of August 2018, as primary articles inflation saw a major jump, the government data released on Monday said.
Wholesale inflation in food rose to 0.14 percent as against a negative 2.25 percent in August 2018. WPI inflation in primary articles also rose to 2.97 percent versus negative 0.15 percent in the previous month.
The core inflation for September 2018 was at 4.90 percent, compared to 4.80 percent in August 2018, the government data showed.
source: tradingeconomics.com
The non-food articles inflation stood at 4.17 percent in September 2018, compared to 3.48 percent in the previous month.
The Ministry of Commerce and Industry revised the wholesale inflation data for July 2018 to 5.27 percent from 5.09 percent.
Data released by the government showed fuel and power inflation stood at 16.65 percent as against 17.73 percent in August 2018.
Analysts on an average expected wholesale inflation to be in the range of 4.7 percent to 4.8 percent on the back of higher fuel prices.
Experts said that a decline in vegetable prices could be offset by higher fuel prices. Vegetable prices have seen a decline in wholesale prices.
On one hand, the International Brent crude gained 98 cents, or 1.22 percent, to 81.41 a barrel by 0124 GMT, on track for its biggest daily gain since October 9 while the rupee, on the other hand, opened weaker on Monday at 73.90 against the US dollar, from its Friday’s close of 73.57, adding to the nation's oil import bill at a time when crude is hovering at more than $80 a barrel.
The consumer price index (CPI) inflation rate for September 2018 stood at 3.77 percent against August’s 3.69 percent, on higher food and fuel costs, and pushed up by a battered rupee.
First Published: Oct 15, 2018 12:03 PM IST
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