The situation regarding inflation in the country has started coming under control. After retail inflation, a decline in wholesale inflation has also been recorded during the month of October. Last month, wholesale inflation remained below zero for the seventh consecutive month.
According to the government data released on Tuesday, the wholesale inflation rate during the month of October was -0.52 percent i.e. 0.52 percent below zero. In this way, the wholesale inflation rate has remained below zero for the seventh consecutive month. A year ago, i.e. in October 2022, the rate of wholesale inflation was 8.67 percent.
Deflation situation since April
Earlier in the month of September, wholesale inflation was minus 0.26 percent. The wholesale inflation rate in the country has been continuously below zero since April 2023. When the inflation rate remains less than zero, it is called deflation. Inflation rate being below zero means a fall in prices, while being above zero means an increase in prices.
Retail inflation reduced by 5 percent
This A day ago, retail inflation i.e. CPI based inflation data was released. In the month of October, retail inflation came down to 4.87 percent, which is the lowest in five months. Earlier, retail inflation was 5.02 percent in September and 6.83 percent in August. The Reserve Bank is going to get relief due to further softening of retail inflation in October, which has set a target of bringing retail inflation to the lower bracket of 4 percent.
Reduction in inflation of primary articles
According to the data of the Ministry of Commerce, the trend of softening of prices of primary articles continued during the month of October. The inflation rate in this category had reached 8.24 percent in July. After that there was a decrease in August and the rate was 6.73 percent and in September it was 3.70 percent. Now the inflation rate of primary articles has come down to 1.82 percent in October.
Significant moderation in food inflation also
Food index inflation has come down to 1.07 percent in the month of October. It has gone up, which was at 1.54 percent a month ago in September and at 6.19 percent in August. In case of manufactured goods, the wholesale inflation rate was minus 1.13 percent. Earlier in September and August, wholesale inflation of manufactured goods was minus 1.34 percent and 2.30 percent respectively.
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