Aided by falling prices of food articles, fuel, power items, WPI inflation eases to 0.33 pc in September 2019

News Bharati    14-Oct-2019
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New Delhi, October 14: After the inside story of the Consumer Price Index based retail inflation went out in open, the Wholesale price based inflation has eased to 0.33 per cent in September, as against 1.08 per cent in August due to fall in prices of non-food articles, further aided by falling prices of food articles, fuel and power items.
 
 
The annual rate of inflation, based on monthly wholesale price index (WPI), was at 5.22 per cent in September 2018. The rate of price rise for the food articles was at 7.47 per cent during the month, while that for non-food articles stood at 2.18 per cent, showed the data released by the Ministry of Commerce and Industry.
 
Amid India's economic slowdown, the World Bank on Monday cut the growth forecast at 6 per cent in the fiscal year started on April 1, compared with 7.5 per cent forecast in April and 6.8 per cent recorded a year earlier. "Growth is expected to gradually recover to 6.9 per cent in 2020-21 and to 7.2 per cent in the following year", it added.
 
A wholesale price index is the one that measures and tracks the changes in the price of goods in the stages before the retail level that is, goods that are sold in bulk and traded between entities or businesses instead of consumers. Usually expressed as a ratio or percentage, the WPI shows the included goods' average price change and is often seen as one indicator of a country's level of inflation.