The country’s inflation rate based on the wholesale price index (WPI) remained in the negative zone for the seventh consecutive month in October at (-) 0.52 per cent as prices of food items, chemical products and textiles fell during the month compared to the same month last year.
Sequentially, wholesale prices have fallen further as the wholesale inflation for September was estimated at (-) 0.26 per cent.
In October last year, WPI was at 8.67 per cent.
“The negative rate of inflation in October, 2023 is primarily due to fall in prices of chemicals and chemical products, electricity, textiles, basic metals, food products, paper and paper products as compared to the corresponding month of previous year,” said the Commerce and Industry Ministry.
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