Oct: Costlier crude pushes up wholesale inflation to 5-month high

The wholesale inflation shot to a 5-month high of 12.54 per cent last month, mainly on account of a rise in prices of manufactured products and crude petroleum.

Inflation, based on the Wholesale Price Index (WPI), has remained in double digits for the seventh straight month in October. WPI inflation in September was at 10.66 per cent, while in October 2020 it was at 1.31 per cent.

The October WPI is the highest in five months since May, when it was at 13.11 per cent.

In a statement, the Commerce and Industry Ministry said, “The high rate of inflation in October 2021 is primarily due to rise in prices of mineral oils, basic metals, food products, crude petroleum & natural gas, chemicals and chemical products etc as compared to the corresponding month of the previous year.”