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ICICI Securities Report
Wholesale price Index inflation increased to seven month high of 1.3% in September 2020, up from 0.2% in August 2020.
It should be noted that WPI inflation was in the negative territory during April-July 2020.
inflation in September 2019 had fallen to 0.3% from 1.2% in August 2019.
However, even after adjusting for base effect (i.e. assuming index had remained unchanged between August-September 2019), WPI inflation in September 2020 would have come in at 1.2%.
This shows that most of the increase in wholesale inflation in September 2020 is driven by sequential momentum.
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