The Ministry of Commerce and 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.
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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.