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Financial News: India Wholesale Price Inflation Accelerates In October

India Wholesale Price Inflation Accelerates In October

11/15/2021 - 05:54:00 (RTTNews)

(RTTNews) - India's wholesale price inflation accelerated more than expected in October, data from the Ministry of Commerce and Industry revealed on Monday.

Wholesale price inflation advanced to 12.54 percent in October from 10.66 percent in September. The rate was forecast to rise to 10.9 percent.

The increase in annual inflation was driven by the 37.18 percent rise in fuel and power prices and 12.04 percent increase in manufactured products prices.

At the same time, food prices were up 3.06 percent and primary articles cost climbed 5.20 percent, data showed.

On a monthly basis, wholesale prices gained 2.28 percent, reversing a 0.15 percent drop in September.

Data released last week showed that consumer price inflation rose to 4.48 percent in October from 4.35 percent in September.

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