India’s WPI inflation drops further to 10.7% in September

India’s annual rate of inflation, based on monthly wholesale price index, declined further to 10.7% (provisional) in September 2022, over September 2021. After increasing to a record 15.88% in May, WPI inflation eased to 13.93% in July, and further to 12.41% in August, according to the ministry of commerce & industry.

The month-on-month change in WPI index for September 2022 stood at -0.65%.

“Inflation in September 2022 is primarily contributed by rise in 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,” the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade, under the ministry of commerce and industry, said.

The official WPI for all commodities (Base: 2011-12 = 100) for the month of September 2022 was 152.1 compared to previous month’s 153.1.

The index for manufactured products (weight 64.23%) for September 2022 decreased to 142.5 from 143.2 for the month of August 2022. However, the index for ‘Manufacture of Textiles’ sub-group decreased to 145.0 from previous month’s 146.4. On the other hand, the index for ‘Manufacture of Wearing Apparel’ rose to 149.9 from previous month’s 148.6.

The index for primary articles (weight 22.62%) also decreased to 176.2 in September from previous month’s 178.6, while the index for fuel and power (weight 13.15%) increased to 157.8 from 157.6 in August 2022.

Meanwhile, the all-India inflation rate for consumer price index (CPI) on base 2012=100 stood at 7.41 (provisional) in September 2022 compared to 7.00 (final) in August 2022 and 4.35 in September 2021, according to the National Statistics Office, under the ministry of statistics and programme implementation.