The wholesale price-based inflation eased to 10.66 percent in September, helped by moderating food prices even as crude petroleum witnessed a spike.
WPI inflation remained double-digit for the sixth consecutive month. In August, it was 11.39 percent. In September 2020, inflation was 1.32 percent.
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“The high rate of inflation in September 2021 is primarily due to rise in prices of mineral oils, basic metals, non-food articles, food products, crude petroleum & natural gas, chemicals, and chemical products, etc. as compared the corresponding month of the previous year,” the Commerce and Industry Ministry said in a statement.
Inflation in food articles eased for the fifth straight month, recording (-) 4.69 percent in September from (-) 1.29 percent in August, mainly due to easing vegetable prices. Pulses prices continued to spike at 9.42 percent.
Inflation in the fuel and power basket was 24.91 percent in September, against 26.09 percent in the previous month.
The rise in crude petroleum and natural gas prices was 43.92 percent in September over 40.03 percent in the previous month.
In manufactured products, inflation stood at 11.41 percent during the month.
The RBI, which mainly takes into account retail inflation in its monetary policy, earlier this month kept interest rates unchanged at record lows.
Retail inflation in September too slowed to a five-month low of 4.4 percent on moderating food prices.
The Indian Express