India Flash News

WPI Inflation in September was -0.26%: Vegetable Prices Dropped

<p>As vegetable prices decline, wholesale price index (WPI) inflation records its sixth consecutive month of contraction in September at -0.26%.<img decoding=”async” class=”alignnone wp-image-240533″ src=”” alt=” wpi inflation in september was 0 26 vegetable prices dropped download 2023 10 17t1″ width=”1073″ height=”601″ srcset=” 300w,×84.jpg 150w” sizes=”(max-width: 1073px) 100vw, 1073px” title=”WPI Inflation in September was -0.26%: Vegetable Prices Dropped 3″></p>
<p>According to official statistics, the Wholesale Price Index (WPI) of inflation continued to trend downward for a sixth straight month, posting a negative number of -0.26% in September, a little improvement from the -0.52% seen in August. The main factor for this fall was a sharp decline in vegetable prices, which went from 48.39% in August to -15% in September.</p>
<p>Retail inflation in India for September fell to a three-month low of 5.7%, but industrial production increased significantly in August, rising to 10.3%. The following sectors’ dropping prices were cited by the Ministry of Commerce as the cause of the deflation in September:</p>
<p>chemical substances and products</p>
<p>Metallized oils</p>
<p>primary metals</p>
<p>the foodstuffs</p>
<p>Article inflation decreased to 3.70% in September from 6.34% in August, a considerable decrease. While this was happening, the price of gasoline and electricity fell by 3.35% as opposed to 6.03% in August. In September, the deflation rate for manufactured goods was recorded at 1.34%, which is somewhat better than the 2.37% seen in August.</p>
<p>Specific categories showed notable variations, with onion prices rising to 55.05% in September from 31.42% in August. Prices for eggs, meat, and fish deflated at a slower 2.86% pace in September compared to 2.98% in August. Additionally, the price of potatoes continued to decline, falling by 25.24% in September as compared to 24.02% in August.</p>
<p>What is Included in the WPI Inflation Measure?</p>
<p>The Wholesale Price Index of inflation offers a thorough assessment of the entire producer prices within an economy during a certain time period. It represents the prices paid to wholesale purchasers for products and services produced in the economy, and it depicts the pricing of goods and services before they reach the final consumer.</p>
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