India’s wholesale inflation rate declined to 10.7% in September from 12.41% in August, government data showed on Wednesday.
The indicator of price rise in wholesale markets has remained in double digits since April last year.
“Inflation in September is primarily contributed by rise in prices of mineral oils, food articles, crude petroleum and natural gas, chemicals and chemical products, basic metals, electricity, textiles, as compared to the corresponding month of the previous year,” the Ministry of Commerce and Industry noted on Wednesday.
The food inflation decreased to 8.08% from 9.93% in August. The inflation rate for the primary articles came down to 11.73% from 14.93% in August. The fuel and power inflation rate eased to 32.61%, down from 33.67% in August. The inflation rate of manufactured products in September dipped to 6.34% from 7.51% in August.
On Wednesday, government data showed that India’s retail inflation increased to 7.41% in September up from 7% in August. September’s figures were the highest in five months. The price rise indicator was 6.71% in July, 7.01% in June and 7.04% in May.
For nine months now, retail inflation has remained above the upper limit mandated by the Reserve Bank of India. The central bank aims to keep inflation in the range of 2% to 6%.
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