New Delhi: The Union Ministry of Commerce and Industry on Monday released data showing that wholesale inflation dropped down to 0.33 per cent in the month of September, showing a decline from 1.08 per cent in the month of August, and from 5.22 per cent in September last year.
The annual rate of inflation is determined by the monthly Wholesale Price Index (WPI). The figures for September showed that the WPI for ‘All Commodities’ in September 2019 declined by 0.1 per cent to 121.3 from 121.4 from the previous month.
Notably, the inflation rate for primary commodities like wheat, milk, fruits and vegetables, and meat stood at 0.6 per cent, while they have a weightage of 22.62 per cent on WPI. On the other hand, the inflation rate for non-food articles was at 2.18 per cent.
Similarly, the build-up inflation rate in the fiscal year 2019-20 so far was 1.17 per cent compared to the build-up of 3.96 per cent in the previous year’s corresponding period of time. Meanwhile, the manufacturing products index in September increased by 0.1 per cent to 117.9 from 117.8 in the month of August.
It must be noted here that the consumer inflation rate is tracked by the Reserve Bank of India (RBI) to prepare its monetary policy for the forthcoming financial periods.