India’s wholesale inflation rose to 1.84 per cent in September 2024 mainly due to increase in prices of food articles and manufacturing equipment, compared with a four-month low of 1.31 per cent in the previous month of August 2024.
“The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 1.84 per cent (Provisional) for the month of September, 2024 (over September, 2023). Positive rate of inflation in September, 2024 is primarily due to increase in prices of food articles, food products, other manufacturing, manufacture of motor vehicles, trailers & semi-trailers, manufacture of machinery & equipment, etc,” the commerce and industry ministry said in a statement on Monday.
Inflation in food items shot up to 11.53 per cent last month against 3.11 per cent in August. This was led by 48.73 per cent inflation in vegetables as against (-)10.01 per cent in August.
Potato and onion continued to witness price hikes at 78.13 per cent and 78.82 per cent, respectively, in September. The ‘fuel and power’ category witnessed deflation of 4.05 per cent in September against a deflation of 0.67 per cent in August.
The Wholesale Price Index (WPI)-based inflation had witnessed a slight contraction of 0.1 per cent in September 2023.
In the previous financial year 2023-24, the WPI inflation remained negative (or in deflatory phase) in seven out of 12 months. The average wholesale inflation was -0.7 per cent during the year.
The CPI inflation numbers will be released later in the day at around 5:30 pm.
The Reserve Bank of India (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 earlier this month.
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