India Wholesale Prices Fall 1.21% In October

(RTTNews) - India's wholesale price inflation declined in October after rising in the previous two months, provisional data from the Ministry of Commerce and Industry revealed on Friday.

The wholesale price index, or WPI, dropped 1.21 percent year-over-year in October, reversing a 0.13 percent rise in September. The expected decrease was 0.6 percent.

Food price deflation deepened to 5.04 percent in October from 1.99 percent, and the price decline in primary articles was 6.18 percent versus a 3.32 percent fall in the prior month.  Costs for fuel and power also declined 2.55 percent, while the annual price growth of manufactured products eased to 1.54 from 2.33 percent.

On a monthly basis, wholesale prices dropped 0.1 percent from September, when they decreased by 0.2 percent.

Data released on Wednesday showed that India's consumer price inflation eased more than expected in October to a new record low of 0.25 percent as the impact of the reduction in GST was visible across all sectors.