Priya
Share
Wholesale price inflation rose to 1.84 percent in September due to rising prices of food items, especially vegetables. This information was given in government data released on Monday. Wholesale Price Index (WPI) based inflation was 1.31 percent in August. It had decreased by 0.07 percent in September last year. Food inflation increased to 11.53 percent in September, while it was 3.11 percent in August. This was due to vegetable inflation which increased by 48.73 percent in September. It had decreased by 10.01 percent in August.
Prices of both potatoes and onions have risen
Inflation in potato and onion remained high at 78.13 per cent and 78.82 per cent respectively in September. The fuel and power category witnessed deflation of 4.05 per cent in September as against 0.67 per cent in August. “The positive rate of inflation in September, 2024 is mainly due to increase in prices of food articles, food products, other manufacturing, motor vehicles, manufacture of trailers and semi-trailers, manufacture of machinery and equipment, etc,” the Ministry of Commerce and Industry said in a statement.
If inflation increases then loans will not become cheaper
The Reserve Bank of India (RBI) mainly takes retail inflation into account while formulating monetary policy. In its monetary policy review this month, the RBI kept the main interest rate or repo rate unchanged at 6.5 percent. If inflation rises, the hope of loans becoming cheaper will fade away.
--Advertisement--
