New Delhi: The wholesale price-based inflation declined to an 18 – monthly low of 10.7 % in September, as prices of food, fuel, and manufactured items softened. Although the wholesale price index ( WPI ) based inflation declined for the fourth consecutive month, it continued to remain double-digit for the 18th month since April 2021.
” Inflation in September 2022 is primarily contributed by rising prices of mineral oils, food articles, crude petroleum & natural gas, chemicals & chemical products, basic metals, electricity, textiles, etc. as compared to the corresponding month of the previous year, ” an official statement said. The wholesale inflation was 12.41 % in August and 11.80 % in September last year. This year, WPI touched a record high of 15.88 % in May. Economists say the gradual month-on-month decline in WPI is mainly due to moderation in commodity prices and pegged inflation to come down further with overall recovery momentum and a weaker outlook on commodity prices.