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Wholesale price inflation stays in negative zone for 7th straight month in Oct

New Delhi, Nov 14 (IANS) The country’s inflation rate based on the wholesale price index (WPI) remained in the negative zone for the seventh consecutive month in October at (-) 0.52 per cent as prices of food items, chemical products and textiles fell during the month compared to the same month last year.

Sequentially, wholesale prices have fallen further as the wholesale inflation for September was estimated at (-) 0.26 per cent.

In October last year, WPI was at 8.67 per cent.

“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 as compared to the corresponding month of previous year,” said the Commerce and Industry Ministry.

–IANS

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Indian Abroad News Desk
Indian Abroad News Deskhttps://www.indianabroad.news
Indian Abroad is a news channel and fortnightly newspaper meant for Australia’s Indian community and, besides news, focuses on lifestyle subjects like health, travel, culture, arts, beauty, fashion, entertainment, Bollywood, etc. Our YouTube channel here features daily news bulletins besides infotainment videos on lifestyle subjects.

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