According to preliminary statistics provided by the Ministry of Commerce & Industry on Monday, India’s wholesale price index (WPI)- based inflation for September increased to 1.84 percent on an annual basis from a four-month low of 1.31 percent in August. WPI inflation increased to 3.36 percent in June and 2.04 percent in July. In September 2023, the wholesale pricing index had a minor decline of -0.1%.
In a statement, the Ministry of Commerce & Industry stated, “The primary cause of the positive rate of inflation in September 2024 is the increase in the prices of food articles and food products, other manufacturing, motor vehicle, trailer, and semi-trailer manufacture, as well as the manufacture of machinery and equipment.”
The WPI index changed by 0.06 percent in September 2024 compared to August 2024, marking a month-over-month change.
Inflation for food items increased dramatically in September, rising to 11.53% from 3.11% in August, according to a Ministry of Commerce & Industry report. From 2.42 percent in August to 6.59% in September, the inflation rate for main products increased. September saw a 4.05% increase in fuel and power inflation, compared to a -0.67% increase in August. Additionally, during the reviewed month, the inflation rate for manufactured goods was 1.0%.
Vegetable inflation under the food articles category was 48.73 percent in September, a significant increase from -10.01 percent in August. In September, the inflation rate for pulses was 12.99 percent, whilst the inflation rate for wheat was 7.60 percent in September compared to 7.28 percent in August.
WPI inflation was recorded at 1.64% in September by the non-food articles, compared to a -2.08% rate in August. Inflation in the minerals sector decreased to 3.03 percent in September from 8.76 percent in August. September’s wholesale inflation figures for natural gas and crude petroleum were reported as -13.04 percent and -16.78 percent, respectively.
