Inflation based on the Wholesale Price Index in September 2016 has dropped to 3.57% from its August figure of 3.74%, ANI reported on Friday. The aftermath of a relatively good monsoon is expected to bring down the inflation rate further, Business Standard reported.
Food inflation declined from last month's 8.23% to 5.75%, but was relatively higher year on year, The Financial Express reported. The prices of milk and fruit, however, were an exception – inflation in fruits rose from the earlier recording of 13.91% to 14.10%, while milk inflation increased from 3.40% to 3.71%.
Fuel and manufactured products inflation also surged – fuel price index increased to 5.58% from 1.62% in August, while inflation in manufactured products rose marginally to 2.48% from 2.42%.
Wholesale Price Index measures the cost of bulk goods traded between organisations. The index has a major impact on fiscal and monetary policies in the country.
Buy an annual Scroll Membership to support independent journalism and get special benefits.
Our journalism is for everyone. But you can get special privileges by buying an annual Scroll Membership. Sign up today!