WPI Inflation September 2023: Decline in inflation, inflation rate hits low of -0.26 percent in September

According to the data released by the government, the inflation rate in September stood at (-) 0.26 percent. In August this year, it was (-) 0.52 percent. The reason behind inflation reaching its lowest level in September is that the prices of chemical and chemical products, mineral oil, textiles, basic metals, and food products have declined this month. Last year, in the same month i.e. September, this item was very expensive.

Along with this, inflation in food items decreased to 3.35 percent in September which was 10.60 percent in August. Let us tell you that a negative trend has been seen in WPI data for 6 consecutive months. The overall inflation rate in July was -1.36 percent.

The Commerce and Industry Ministry on Monday said the decline in the inflation rate in September 2023 compared to the same month last year is due to a decline in prices of chemical and chemical products, mineral oils, textiles, basic metals, and food products.

Inflation in fuel and power baskets was (-)3.35 percent in September, compared to (-)6.03 percent in August. At the same time, the inflation rate in manufactured products was (-) 1.34 percent, whereas in August it was (-) 2.37 percent.

Data released last week showed that annual retail or consumer price inflation stood at 5.02 percent in September, a three-month low.