Wholesale price inflation hardens to 2.4% in October-OxBig News Network

According to a latest data, potato prices rose 78.7%, up from 78.1% in September, while onion inflation halved from 78.8% to 39.25% in October. File photo
| Photo Credit: The Hindu

Inflation in India’s wholesale prices hardened from 1.84% in September to 2.4% in October, led by a well over two-year high spike in food prices to 11.6% from 9.5% in the previous month, as  per the data released on Thursday (November 14, 2024).

Also read:India’s middle class tightens its belt, squeezed by food inflation

Vegetable prices soared over 63%, compared with the 14-month peak inflation of about 49% recorded in September. Potato prices rose 78.7%, up from 78.1% in September, while onion inflation halved from 78.8% to 39.25% in October.

The Wholesale Food Index jumped 3% on a month-on-month basis. The Commerce and Industry Ministry attributed the rise in wholesale price inflation to an increase in prices of food articles, manufacture of food products, other manufacturing, manufacture of machinery & equipment, manufacture of motor vehicles, trailers & semi-trailers.

Inflation in manufactured products also picked up to 1.5% in October from 1% in the previous two months, while primary articles inflation more than tripled from August to touch 8.1%.