WPI inflation spikes to 12.54 % in October

The wholesale price-based inflation spiked to 12.54 per cent in October, mainly due to rise in prices of manufactured products and crude petroleum. WPI inflation has remained in double digit for the seventh consecutive month beginning April. Inflation in September this year was at 10.66 per cent, while in October 2020 it was at 1.31 per cent.

The high rate of inflation in October 2021 is primarily due to rise in prices of mineral oils, basic metals, food products, crude petroleum & natural gas, chemicals and chemical products etc as compared to the corresponding month of the previous year, the Commerce and Industry Ministry said in a statement.

Inflation in manufactured items was higher at 12.04 per cent in October, as against 11.41 per cent in the previous month. In the fuel and power basket, the rate of price rise was 37.18 per cent in October, against 24.81 per cent in September. Crude petroleum inflation was 80.57 per cent during the month under review, as against 71.86 per cent in September.