According to the official data, India’s annual rate of inflation based on wholesale prices mounted in October to 3.59 per cent from 2.6 per cent in September.
According to data from the Ministry of Commerce and Industry, the wholesale price index (WPI), with the revised base year of 2011-12, went up in October to 3.59 per cent from 2.60 per cent in September. Consumer inflation (CPI) too jumped to a 7-month high of 3.58 per cent in October, driven by costlier food items, particularly vegetables.
“The annual rate of inflation, based on monthly WPI, stood at 3.59 per cent (provisional) for October 2017 (over October 2016) as compared to 2.60 per cent (provisional) for the previous month and 1.27 per cent during the corresponding month the previous year,” the ministry said in its review of October WPI.
“Build up inflation rate in the financial year so far was 2.03 per cent compared to a build up rate of 3.53 per cent in the corresponding period of the previous year.” Wholesale prices had accelerated in August to 3.24 per cent from July’s rise of 1.88 per cent and an increase of 0.90 per cent was reported for June.