Wholesale inflation eases to 8.39% in October from Sept 10.7%: Govt data
According to government data, wholesale price-based inflation declined for the fifth consecutive month to 8.39% in October.
WPI measures the average change in prices of goods at the wholesale level. (Representational Image)
By India Today Web Desk: The Wholesale Price Inflation (WPI) eased to 8.39 per cent in October, against 10.7 per cent in September, according to government data.
The wholesale price-based inflation declined for the fifth consecutive month in October to 8.39 per cent for prices of food, fuel and manufactured items.
In May, the WPI had climbed to a record high of 15.88%. September was the 18th month in a row showcasing double-digit WPI inflation.
WHAT IS WPI?
WPI measures the average change in prices of goods at the wholesale level, and its data is published by the Office of Economic Adviser, Ministry of Commerce and Industry. The base year for WPI is 2011-12, which takes into account the change in the price of goods only. In WPI, more weightage is given to manufactured goods.
(With input from PTI)