Wholesale Inflation At A Five-Month High On Soaring Prices In Fuel, Manufacturing Items: CARE Ratings
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CARE Ratings Research Report
Inflation in wholesale prices witnessed an uptick to 12.5% in October 2021, 188 basis points higher than 10.7% in the previous month. The WPI print for the month is higher than our estimate of 10.5%.
On a sequential basis, wholesale prices have risen by 2.3%. Inflation at the wholesale level has come at a five-month high on account of record high inflation in the fuel, manufacturing segments and a slight uptick in prices of food items.
Elevated retail prices in the fuel, edible oil, services component and a pick-up in prices of vegetables during October 2021 have contributed to a slight acceleration in consumer price index inflation to 4.5% from 4.4% in the previous month.
Keeping up with the movement in retail prices, wholesale inflation too has accelerated during the month.
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