Wholesale Price Inflation (WPI) figured at 8.39 percent in October against 10.7 percent in September this year, a fall of more than 2 percent. According to a statement from the Commerce and Industry Ministry, the decrease in WPI inflation in October can be attributable to lower prices for mineral oils, basic metals, fabricated metal goods (apart from machinery and equipment), textiles, other non-metallic goods, minerals, etc.

"Fall in the price of mineral oils, basic metals, fabricated metal goods, except machinery and equipment; textiles; other non-metallic mineral products; minerals, etc., is the main contributor to the decline in the rate of inflation in October 2022.", the release said.

Compared to 8.08 percent in September, food-based inflation in the same period was 6.48 percent. Commodities like cereals (12.03%), paddy (6.63%), wheat (16.25%), pulses (0.45%), vegetables (17.61%), potatoes (44.97%), onions (-30.02%), fruits (0.23%), milk (5.53%), and eggs, meat, and fish are included in this (3.97 percent).

The statement read, "The Food Index, which consists of "Food Goods" from the manufactured products group and "Food Articles" from the primary articles group, increased from 175.2 in September 2022 to 177.5 in October. Based on the WPI food index, the rate of inflation fell from 8.08 percent in September 2022 to 6.48 percent in October 2022."
More non-metallic mineral items, motor vehicles, trailers, and semi-trailers are a few other categories where prices dropped in October.

According to official data made available by the National Statistical Office (NSO) on Friday, the index of industrial production (IIP) increased by 3.1% in September. As per this data, the manufacturing sector's output increased by 1.8% over that time. Power production and mining output both saw rise by 4.6% and 11.6% respectively throughout the month.

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