Key Takeaways
- India’s wholesale inflation rose to 1.84% in September 2024, driven by food article and vegetable price hikes.
- The WPI Food Index inflation rate increased from 3.26% in August 2024 to 9.47% in September 2024.
- The rise in wholesale price index (WPI) inflation may impact the Indian economy by reducing consumer spending and increasing prices of goods and services.
New Delhi: India’s wholesale price index (WPI) based inflation inched up to 1.84% in September 2024 on annualised basis from 1.31% in the previous month, as per official data released on Monday.
The annual rate of inflation based on WPI Food Index increased from 3.26% in August, 2024 to 9.47% in September, 2024.
“Positive rate of inflation in September, 2024 is primarily due to increase in prices of food articles, food products, other manufacturing, manufacture of motor vehicles, trailers & semi-trailers, manufacture of machinery & equipment, etc,” Ministry of Commerce said in a release.
The month over month change in WPI index for the month of September, 2024 stood at 0.06% as compared to August, 2024.
The official data showed primary articles inflation rose 6.59% in September this year as against 2.42% in August this year. Inflation in fuel and power declined by 4.05% in September as compared to a dip of 0.67% in the previous month. Manufactured products inflation rose by 1% in September as compared to 1.22% in August this year.
Food article inflation surged 11.53% in September this year. Significantly, vegetable inflation spiked by 48.73% in September, after a fall of 10.01% in the previous month.
