India’s wholesale worth index (WPI) inflation remained within the deflationary zone for the sixth month in a row in September at -0.26 per cent, information launched on Monday by the commerce ministry acknowledged. WPI inflation stood at -0.52 % in August 2023 and 10.55 per cent in September 2022. The WPI-based inflation price has been within the adverse for the sixth consecutive month since April.
At -0.26 per cent, the newest wholesale inflation print is nicely beneath the consensus estimate, with economists having predicted it doubtless rose to 0.7 per cent final month.
The WPI information comes days after the NSO on Thursday revealed that headline retail inflation decilined to a three-month low of 5.02 per cent in September, dropping by a large 242 foundation factors from July’s 15-month excessive of seven.44 per cent. Over the identical interval, WPI inflation has risen by 97 foundation factors.
The wholesale inflation for major articles in September stood at 3.7 per cent as in opposition to 6.34 per cent in August. Gasoline and energy inflation for September got here -3.35 per cent, in comparison with -6.03 per cent in August. Meals index for the month of September eased to 1.54 per cent from 5.62 per cent in August.