Ministry of Commerce & Industry released its data on Wholesale Price Index (WPI). As per Ministry’s data, provisional Wholesale Price Index (WPI) based inflation have been accelerated to a five-month high to 12.54% in October 2021 as against 66% recorded in September. This rise was attributed to an increase in fuel and manufacturing prices. The report notes that, benchmark inflation print has remained in double digits for seven consecutive months.
Benchmark inflation Print
The benchmark inflation print for October 2020 was 1.31%. The high rate of inflation in October 2021 is due to an increase in prices of mineral oils, basic metals, crude petroleum & natural gas, food products, chemicals and chemical products etc as compared to the corresponding month of the previous year.