India’s inflation eases against World’s economy
As the most of the countries in the world is facing historic inflation in their economy but in India annual wholesale price-based inflation (WPI) has eased to 10.70 per cent. Wholesale price-based inflation (WPI) in September has eased to 10.70% year-on-year from 12.41% the previous month.
The central government’s data released inflation in September 2022 which is primarily contributed by rise in prices of mineral oils, food articles, crude petroleum & natural gas, chemicals & chemical products, basic metals, electricity, textiles etc. as compared to the same the month of the previous year.
Highest level of inflation:
The highest inflation was remarked in High-Speed Diesel (HSD) at 65.96 per cent (YoY) and it has been followed by a 49.79 per cent rise in potato prices and a 44.72 per cent increase in crude petroleum and natural gas.
Sector that saw hike in inflation:
On a month-on-month (MoM) basis Fuel and Power is the only group that saw inflation. All the others sectors have registered a fall in prices.
The WPI Food Index also experienced a decline in inflation.
The rate of inflation based on the WPI Food Index has lowered from 9.93 per cent in August 2022 to 8.08 per cent in September 2022.
Sectoral comparison of inflation:
The price of Food Articles has increased slightly in September, 2022 as compared to August, 2022.
As compared to August 2022, the inflation rate for September 2022 has been registered for some sectors are as follows: the prices of Non-food Articles at -3.60 per cent, Crude Petroleum & Natural Gas -6.38 per cent and Minerals -6.45 per cent.
The rate of inflation based on the WPI Food Index has registered lower from 9.93 per cent in August 2022 to 8.08 per cent in September 2022.
Question & Answer:
Q1. At what percent the Wholesale Price based inflation rate is registered for the month of September
Q2. In which sector and at what percent highest inflation was registered in September 2022?
Ans. High Speed Diesel at 65.96%
Q3. Which sector is the sole group that has registered increase in inflation in September 2022?
Ans. Fuel and Power