In December, the index fell a provisional 0.73 per cent.
India's year-on-year inflation rate as measured by the consumer price index rose to 3.43 per cent in January from 3.2 in December, a government statement said on Wednesday.
Costlier food items, including vegetables, pushed the October wholesale inflation to 7 per cent, the highest in the current financial year.
Food articles inflation dips to 8.14% from 9.50% last month.
Inflation based on the wholesale price index rose to 4.24% during the week ended October 1 from 3.97 per cent a week ago
The Wholesale Price Index-based inflation was (-)4.54% in Sep.
The rise in May Wholesale Price Index based inflation has been mainly on account of 31.44 per cent increase in prices of potato, 19.40 per cent in fruits and 12.75 per cent in rice.
Former finance minister P Chidambaram on Friday rejected Finance Minister Arun Jaitley's contention in Lok Sabha that UPA government left behind double digit inflation.
However, prices of most agricultural items, barring potatoes, onions and wheat, continued to rise.
Hardening prices of manufactured items during the month may refrain the Reserve Bank of India from cutting rates in its policy review on February 8.
In the coming weeks prices are expected to further cool down as new crop from Karnataka has started coming into the market.
The retail inflation rate breached the 6 per cent upper tolerance limit of the RBI for the first time in seven months in January, while the wholesale price index stayed in double-digits for the 10th month in a row, showed two sets of data released by the government on Monday. Retail inflation, the key input for the RBI while reviewing the repo rate every two months, soared during the month mainly because of a spike in certain food items. The previous high for retail inflation was 6.26 per cent in June 2021.
Notwithstanding the fact that the country's pharmaceutical (pharma) pricing regulator has allowed a 12 per cent price increase for medicines listed under the National List of Essential Medicines (NLEM) in 2023, analysts and industry insiders predict that the overall domestic pharma industry will only witness a price hike of 5-6 per cent. This is attributed to higher competitive intensity in the market. Krishnakumar V, executive director and chief operating officer (CEO) of Eris Lifesciences, a domestic-focused pharma company, noted that the NLEM segment experienced growth suppression of around 150 basis points due to price reductions during the January to July period this year.
Prices of the kitchen staple in Azadpur mandi, Asia's largest wholesale market, were ruling at Rs 60 per kg today as supplies were below normal.
The wholesale price-based inflation rose to 2.03 per cent in January, 2021, even as food prices cooled. The WPI inflation was 1.22 per cent in December, 2020 and 3.52 per cent in January last year. While food articles saw softening in inflation in January, manufactured items witnessed hardening of prices, as per data released by the Commerce and Industry ministry.
The annual rate of inflation based on monthly wholesale price index (WPI) was up at 1.32 per cent in September as compared to 0.16 per cent in the previous month.
Experts say given the annual inflation, the increase might not be substantial for the industry, which has to deal with rising cost of manufacturing, raw material as well as packaging and logistics.
Food inflation, as measured by Wholesale Price Index, stood at 10.60 per cent in the previous week.
His comments poured cold water on hopes that the central bank may have a rethink on rates after the wholesale price index, the main inflation gauge, rose a lower-than-expected annual 7.25 per cent in June, its slowest rise since January, helped by moderation in fuel prices.
The services sector contributes the highest of around 54 per cent to the country's gross domestic product. At present, the WPI, which is released every week, contains prices of primary articles, fuel and manufactured products. Data from banking and transport services would be the first sectors to be covered on an experimental basis. The plan is to initially build a separate services index, which would be integrated into the WPI later.
A Kotak research report expects RBI to cuts rates by 50 basis points in the first half of 2019. RBI will announce its sixth bi-monthly monetary policy on February 7.
Street expects RBI to keep CRR unchanged, opt for open-market operations to ease liquidity
Food inflation in April stood at 6.08 per cent, while the overall WPI inflation fell to a three-year low of 4.89 per cent.
RBI says food supply constraints to taper off only over time.
Inflation, remained in negative territory for the 7th month in May
Inflation in food articles, fuel and power contracted in July.
It would not be surprising if India, the world's largest producer of milk, has to resort to imports to meet the elevated summer demand, states Surinder Sud.
Consumer price inflation touched a nine-month high of 11.24 per cent last month.
The market believes there will soon be another offer to buy the bonds.
Deflation masked the rise in food inflation to a 5-month high.
Food prices rose 8.12% year-on-year last month, slower than an annual rise of 8.80% in January.
The Wholesale Price Index-based inflation fell to 4.7 per cent in May, driven mainly by decline in prices of manufactured items, even as prices of food articles inched up.
For the first time since the new wholesale price index\nseries started in 1995, India's annual rate of inflation turned negative, falling to\nminus 1.61 per cent for the week ended on June 6.
The Consumer Price Index hit the lowest in six months in March at 4.83 per cent.
The wholesale price-based inflation hovered over seven per cent through 2012, down from 10 per cent inflation seen in the previous year, reflecting the impact of tight money policy of the Reserve Bank of India.
As per official data released on Wednesday, WPI inflation in the food articles category rose to double digits at 11.91 per cent, driven mainly by price rise in onion, cereals and rice.
From the Sensex pack, HCL Technologies, Infosys, Wipro, Bharti Airtel, Larsen & Toubro, Mahindra & Mahindra, Tata Consultancy Services and Asian Paints were the major gainers. Axis Bank, IndusInd Bank, Bajaj Finance, JSW Steel, State Bank of India and Tata Steel were among the major laggards.
Though it eased slightly, prices of food items like rice, wheat pulses and potato showed a rise.
The reading for March WPI inflation was revised to 6% from 5.7% earlier.
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