October's wholesale inflation falls to -0.52%; in negative territory for 7th month

WPI October 2023: The wholesale price index-based inflation remained in the negative territory for the seventh straight month in October at (-) 0.52%, on easing prices of food items.

The WPI-based inflation rate has been in the negative zone since April and was at (-) 0.26% in September 2023.

In October last year, WPI was at 8.67%.

Food Inflation in October 2023

Inflation in food articles eased to 2.53% in October. It was 3.35% in the previous month.

"The negative rate of inflation in October, 2023, is primarily due to fall in prices of chemicals and chemical products, electricity, textiles, basic metals, food products, paper and paper products, etc. as compared to the corresponding month of previous year," the commerce and industry ministry said on Tuesday.

Also Read: India's retail Inflation hits four-month low at 4.87% in October

The fuel and power basket inflation was at (-) 2.47% in October, against (-) 3.35% in September.

In manufactured products, the inflation rate was at (-) 1.13%, as against (-) 1.34% in September.

The annual retail or consumer price inflation for October hit a 5-month low of 4.87%, data released on Monday showed