Wholesale Price Index inflation in October eases to 8.39 per cent

About WPI

Wholesale Price Index measures and tracks the changes in the price of goods in the stages before the retail level. It provides estimates of inflation at the wholesale transaction level for the economy as a whole.
WPI basket does not cover services.
It is released by the Office of Economic Adviser, Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry.
The base year is 2011-2012.
The index basket consists of commodities under 3 main categories in decreasing order of weightage: Manufactured products, Primary Articles and Fuel and Power.

Why in News?

Wholesale Price-based Inflation (WPI) for October eased to its lowest level since March 2021. Dropping below the double-digit mark for the first time since March of the year 2021, it eased to 8.39 per cent in October from 10.70 per cent in September.

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