The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 8.39% (Provisional) for the month of October, 2022 (over October, 2021) against 10.70% recorded in September, 2022. Decline in the rate of inflation in October, 2022 is primarily contributed by fall in the price of mineral oils, basic metals, fabricated metal products, except machinery and equipment; textiles; other non-metallic mineral products; minerals etc. The wholesale inflation has dropped below the double-digit mark for the first time since March 2021 when it was at 7.89 per cent. The fuel and power inflation fell nearly a third to 23.17 percent from 32.61 percent in September, while prices for manufactured products declined to 4.42 percent from 6.34 percent. The food prices dipped to 6.48 percent from 8.08 percent. The all-commodity index of the WPI edged up by 0.3 percent on a month-on-month basis in October after posting sequential falls in July, August and September.
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