Wholesale inflation at 7-month high in September
Spiralling prices of food items, especially vegetables, pushed up the wholesale inflation to a seven-month high of 1.32% in September and cements the likelihood that the RBI will continue with status quo on interest rates.
The Wholesale Price Index (WPI)-based inflation was at 0.16% in August.
“The annual rate of inflation, based on monthly WPI, stood at 1.32% (provisional) for the month of September, 2020 (over September, 2019) as compared to 0.33% during the corresponding month previous year,” government data showed on Wednesday.
The WPI-based inflation appears to be moving in sync with CPI-based retail inflation which shot up to an eight-month high of 7.34% in September, mainly on account of rising prices of food items.