New Delhi, Nov 14 (IANS) Despite a rise in overall food prices, India’s annual rate of inflation based on wholesale prices eased to 0.16 per cent in October from 0.33 per cent in September due to lower cost of key transportation fuels and manufactured products.
Similarly, on a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry showed a decelerating trend, as inflation had risen to 5.54 per cent during the corresponding period of 2018.
“Build up inflation rate in the financial year so far was 1.92 per cent compared to a build up rate of 4.90 per cent in the corresponding period of the previous year,” the Ministry said in its review of “Index Numbers of Wholesale Price in India” for October.
On a sequential basis, the expenses on primary articles, which constitute 22.62 per cent of the WPI’s total weightage, increased to 6.41 per cent from 5.54 per cent.
The prices of food items increased at a faster rate of 9.80 per cent from 7.47 per cent.
However, the cost of fuel and power, which commands 13.15 per cent weightage, deflated by (-)8.27 per cent from a decline of (-)7.05 per cent.
Expenses on manufactured products registered a decline of (-)0.84 per cent in October from (-)0.42 per cent in September.