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The wholesale price index (WPI)-based inflation for the month of September was recorded at (-) 0.26 per cent compared to (-) 0.52 per cent in August, data released by the National Statistical Office (NSO) said on Monday.
“Deflation in September 2023 is primarily due to fall in prices of chemical & chemical products, mineral oils, textiles, basic metals and food products as compared to the corresponding month of the previous year,” the Ministry of Commerce said in a statement.
It is to be noted that the WPI-based inflation rate has been in the negative for the sixth consecutive month since April.
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As per the NSO data, the wholesale inflation for primary articles for September stood at 3.7 per cent as against 6.34 per cent in August. Fuel & Power inflation for September came -3.35 per cent, compared to -6.03 per cent in August. Food index for the month of September eased to 1.54 per cent from 5.62 per cent in August.
The Index for manufactured products increased by 0.36 to 140.3 per cent in September 2023 from 139.8 per cent last month.
“The month-over-month increase in price is mainly contributed by basic metals; other transport equipment; fabricated metal products; machinery & equipment; rubber & plastic products etc,” the data stated.
It is to be noted that in March this year, WPI inflation had fallen to a 29-month low of 1.34 per cent owing to a steep fall in indexes of primary articles, manufactured products, fuel and power as well as food.
NSO also released the CPI inflation or retail inflation data for the month of September last week saying it eased to 5.02 per cent as against 6.83 per cent in August.
Food inflation fell to 6.56 per cent in September against 9.67 per cent in August. Rural inflation was on the higher side at 5.33 per cent, compared to urban inflation at 4.65 per cent in September.
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