Coronavirus | October inflation rises to 12. 54 per cent

The Ministry of Commerce Industry released the annual rate of inflation for the month of October on Monday. The ministry stated that the annual inflation rate for October increased to 12.54 per cent provisional as opposed to 1.31 per cent in October 2020. The high inflation rate in October 2021 is due to a rise in the prices of mineral oils, basic metals, food products, crude petroleum natural gas, chemicals and chemical products, etc. The ministry said that the ministry said that the month of the previous year was better than that of the previous year.

Since May this year, the WPI inflation has hit 13.11 per cent, the highest level since May. In September, the wholesale price-based inflation had cooled to 10.66 per cent, aided by the moderating food prices.

In September crude petroleum and natural gas prices went up to 9.48 per cent and food articles to 5.05 per cent. The prices of non-food articles fell to 4.59 per cent and minerals to 4.16 per cent as compared to September.

The index for fuel and power group increased by 8.72 per cent to 124.7 provisional from 114.7 provisional for the month of September. The prices of electricity went up 18.84 per cent, mineral oils 7.74 per cent and coal 0.94 per cent.

The index for manufactured products increased by 0.82 per cent to 134.9 provisional in October from 133.8 provisional for the month of September.

The Food Index, consisting of Food Articles'' from Primary Articles Group and Food Product' from Manufactured Products Group, has increased from 159.8 in September, 2021 to 164.8 in October, 2021. The inflation based on the WPI Food Index increased from 1.14 per cent in September, 2021 to 3.06 per cent in October, 2021, according to the ministry.

September WPI inflation eases to 10.66% on lower food prices.