Ministry of Commerce & Industry released its data on Wholesale Price Index (WPI) on November 15, 2021.

Key Points

• As per Ministry’s data, provisional Wholesale Price Index (WPI) based inflation have been accelerated to a five-month high to 12.54% in October 2021 as against 66% recorded in September.
• This rise was attributed to an increase in fuel and manufacturing prices.
• Report notes that, benchmark inflation print has remained in double digits for seven consecutive months.

Benchmark inflation Print

The benchmark inflation print for October 2020 was 1.31%. The high rate of inflation in October 2021 is due to an increase in prices of mineral oils, basic metals, crude petroleum & natural gas, food products, chemicals and chemical products etc as compared to the corresponding month of the previous year.

Consumer Price Inflation index-based inflation

The consumer price inflation index-based inflation in India, increased to 4.48% in October 2021 as compared to October 2020. It was higher than 4.35% recorded in September 2021.