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Wholesale Price Inflation Eases To 8.39% In October, Lowest Since March 2021
October WPI inflation eases to 8.39% y/y Wholesale price-based inflation eased in October to 8.39 per cent year-on-year, compared to 10.70 per cent in September, helped by a fall in commodity prices, government data showed on Monday. That Wholesale Price Index (WPI) reading is the lowest since March 2021 and below a double-digit rise for the first time in 18 months. This year the WPI touched a record high of 15.88 per cent in May. The latest easing points to a lower reading of retail inflation due to be released later in the day. The Reserve Bank of India looks at retail inflation mainly to frame monetary policy, and any cooling in price pressures is a positive sign for India's central bank fighting elevated inflation and trying to stimulate the economy simultaneously. Retail inflation has held above the RBI's upper tolerance threshold of 6 per cent for the ninth month in a row and was at a 5-month high of 7.41 per cent in September. Source - NDTV #inflation #wholesale #pricedrop
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