Wholesale Price Index Sees Monthly Drops But Remains Double Digits

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Wholesale Price Index Sees Monthly Drops But Remains Double Digits

The Wholesale price inflation rate of the country has been recorded at 10.66% for the month of September. Government data released on 14th October tells us that this rate was 1.32% last September. The data does show that the wholesale inflation has reduced somewhat over the past few months, the rate is still being recorded in double digits consistently over the past 6 months.

August’s wholesale inflation rate was 11.39% whereas it was 11.57% in July. Compared to the month of August, there is a fall in prices of primary gods, petrol and natural gas, food products, and others.

The wholesale price index (WPI) of primary goods was 155.8 in August which reduced to 154.9 in September. WPI measures the change in prices of commodities before they reach consumers and tracks the prices of goods sold in wholesale.

The reduction in prices of unrefined oil and natural gas, minerals, food and non-food products, and mineral oil are respectively: -4.06%, -2.34%, -0.25%, -0.31% and -1.75%. Among foodstuffs, prices have fallen by -48.95%, -1.91%, and -1.27% for potatoes, onions, and fruits respectively.

For manufactured products, the wholesale price index has increased and reached 133.8. Similarly, the prices of daals (lentils), basic metal, and clothes increased by 9.42%, 26.71%, and 16.81% respectively.

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