: Food products moderate Wholesale inflation to 10.7% in Sept; Mineral oil, crude & textiles remain firm #finance #StockMarketNEWS Food products moderate Wholesale inflation to 10.7% in Sept; Mineral

Food products moderate Wholesale inflation to 10.7% in Sept; Mineral oil, crude & textiles remain firm #finance #StockMarketNEWS
Food products moderate Wholesale inflation to 10.7% in Sept; Mineral oil, crude & textiles remain firm New Delhi, Oct 14 (KNN) The annual rate of inflation based on all India Wholesale Price Index (WPI) number fell to 10.7 per cent for the month of September, 2022 against 12.41 per cent recorded in August 2022.

The Food Index consisting of Food Articles from Primary Articles group and Food Product from Manufactured Products group have decreased from 176.0 in August, 2022 to 175.2 in September, 2022, said the Ministry of Commerce.

The rate of inflation based on WPI Food Index decreased from 9.93 per cent in August, 2022 to 8.08 per cent in September, 2022.

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 index for primary articles declined by (-1.34%) to 176.2 (provisional) in September, 2022 from 178.6 (provisional) for the month of August, 2022.

Prices of Food Articles (0.28%) increased in September, 2022 as compared to August, 2022.

Prices of Non-food Articles (-3.60%), Crude Petroleum & Natural Gas (-6.38%) and Minerals (-6.45%) declined in September, 2022 as compared to August, 2022.

The index for Manufactured Products declined by (-0.49%) to 142.5 (provisional) in September, 2022 from 143.2 (provisional) for the month of August, 2022.

Out of the 22 NIC two-digit groups for manufactured products, 12 groups that have witnessed an increase in prices while 8 groups have witness a decrease in prices. Index of 2 groups has remained unchanged.

The increase in price is mainly contributed by motor vehicles, trailers and semi-trailers; machinery and equipment; fabricated metal products except machinery and equipment; electrical equipment and computer, electronics and optical products.

Some of the groups that have witnessed decrease in prices are basic metals, food products; chemicals and chemical products; textiles and other non-metallic mineral products in September, 2022 as compared to August, 2022. (KNN Bureau)