The Ministry of Commerce and Industry announced its Wholesale Price Index (WPI) statistics.
Highlights:
Provisional Wholesale Price Index (WPI)-based inflation increased to a five-month high of 12.54 percent in October 2021, compared to 66 percent in September.
An increase in gasoline and manufacturing prices was blamed for the increase.
The benchmark inflation has been in double digits for seven months in a row. The benchmark inflation rate in October 2020 was 1.31 percent.
When compared to the same month the previous year, the high rate of inflation in October 2021 was driven by a surge in the costs of mineral oils, basic metals, crude petroleum and natural gas, food, chemicals, and chemical products, among other things.