WPI Inflation Numbers For October 2024 Are Out: Here's What Became Cheaper, What Got Dearer

The Wholesale Price Inflation in India surged to a four-month high of 2.36 per cent in October - the government data said on Thursday. The increase in WPI inflation is primarily due to the increase in prices of food articles, manufacture of food products, other manufacturing, manufacture of machinery and equipment, and manufacture of motor vehicles, trailers & semi-trailers, the data showed.

Inflation numbers for October 2024 out

The Food Index, which consists of food articles increased from 195.3 in September 2024 to 201.2 in October 2024. The rate of inflation based on the WPI Food Index increased from 9.47% in September 2024 to 11.59% in October 2024 - the Department for Promotion of Industry and Internal Trade (DPIIT) said in a statement. Simply put, food products got dearer by 2.12 per cent in October 2024 over September 2024. 

The annual rate of inflation for Primary Articles of WPI increased to 8.09 % in October 2024 from 6.59 % in September 2024. Primary Articles include necessary food items such as onions, pulses and vegetables, oil seeds and minerals among others. 

Fuel got cheaper, manufactured goods became expensive

The annual rate of inflation for Fuel & Power of WPI declined to(-) 5.79 % in October 2024 from (-) 4.05 % in September 2024. Similarly, the annual rate of inflation of the Manufactured Products group of WPI increased to 1.50 % in October 2024 from 1.00 % in September 2024. Manufactured products consist of, among others, products such as cement, pharmaceuticals, medicinal chemicals and botanical products, to name a few.

DPIIT releases index numbers of wholesale prices in India on a monthly basis on the 14th of every month.