New Delhi: Wholesale price index (WPI) inflation fell to 10.70% year on year. WPI-based inflation in August was 12.41%, according to official figures released on Friday.

“Inflation in September, 2022 is primarily contributed by rise in prices of mineral oils, food articles, crude petroleum & natural gas, chemicals & chemical products, basic metals, electricity, textiles etc. as compared to the corresponding month of the previous year”, said the government release.

High-speed diesel (HSD) saw the highest inflation rate at 65.96%. (YoY). It was followed by price increases of 44.72 percent for crude oil and natural gas and 49.79 percent for potatoes.

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Only the category of fuel and power experienced an increase in inflation month over month (MoM).

The prices fell in all the others. Inflation was also down in the WPI Food Index.

“The rate of inflation based on the WPI Food Index decreased from 9.93 per cent in August 2022 to 8.08 per cent in September 2022,” the office of economic advisor noted.

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The index for this important group dropped from 178.6 (provisional) for the month of August 2022 to 176.2 (provisional) in September 2022, a (-1.34%) decrease. When compared to August 2022, food item prices rose by 0.28 percent in September 2022. In September 2022 compared to August 2022, prices for non-food items dropped by 3.60 percent, crude oil and natural gas prices dropped by 6.38 percent, and the price of minerals dropped by 6.45 percent.

Food items from the manufactured products group and “Food Articles” from the primary articles group make up the food index, which fell from 176.0 in August 2022 to 175.2 in September 2022. Based on the WPI food index, the inflation rate dropped from 9.93% in August 2022 to 8.08% in September 2022.

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