GET Stock QuotesNews18 APP
News18 English

Assembly Election LIVE Results

  • LOST

    Shaktisinh Gohil

    INC (Mandvi)
  • WON

    Jignesh Mevani

    IND (Vadgam (SC)
  • WON

    Alpesh Thakor

    INC (Radhanpur)
  • WON

    Nitinbhai Patel

    BJP (Mahesana)
  • WON

    Hitu Kanodiya

    BJP (Idar (SC)
  • WON

    Pradipsinh Jadeja

    BJP (Vatva)
  • LOST

    Babubhai Mangukiya

    INC (Thakkarbapa Nagar)
  • WON

    Himmatsinh Patel

    INC (Bapunagar)
  • WON

    Bhupendrasinh Chudasama

    BJP (Dholka)
  • WON

    Somabhai Patel

    INC (Limbdi)
  • LOST

    Indranil Rajguru

    INC (Rajkot West)
  • WON

    Vijay Rupani

    BJP (Rajkot West)
  • WON

    Jayesh Radadiya

    BJP (Jetpur)
  • WON

    Lalit Vasoya

    INC (Dhoraji)
  • LOST

    Raghavjibhai Patel

    BJP (Jamnagar Rural)
  • WON

    Hakubha Jadeja

    BJP (Jamnagar North)
  • LOST

    Arjun Modhwadia

    INC (Porbandar)
  • WON

    Paresh Dhanani

    INC (Amreli)
  • WON

    Purshottam Solanki

    BJP (Bhavnagar Rural)
  • WON

    Jitu Vaghan

    BJP (Bhavnagar West)
  • WON

    Saurabh Patel

    BJP (Botad)
  • LOST

    Ramsinh Parmar

    BJP (Thasra)
  • WON

    CK Raulji

    BJP (Godhra)
  • WON

    Mohansinh Rathava

    INC (Chhota Udaipur (ST)
  • LOST

    Siddharth Patel

    INC (Dabhoi)
  • WON

    Manisha Vakil

    BJP (Vadodara City (SC)
  • WON

    Rajendra Trivedi

    BJP (Raopura)
  • WON

    Mahesh Vasava

    BTP (Dediapada (ST)
  • WON

    Chhotubhai Vasava

    BTP (Jhagadia (ST)
  • LOST

    Tusharbhai Chaudhari

    INC (Mahuva (ST)
  • LOST

    Thakur Singh Bharmouri

    INC (Bharmour (ST)
  • WON

    Asha Kumari

    INC (Dalhousie)
  • LOST

    GS Bali

    INC (Nagrota)
  • LOST

    Sudhir Sharma

    INC (Dharamshala)
  • LOST

    Indu Goswami

    BJP (Palampur)
  • WON

    Jai Ram Thakur

    BJP (Seraj)
  • WON

    Anil Sharma

    BJP (Mandi)
  • LOST

    Champa Thakur

    INC (Mandi)
  • LOST

    Prem Kumar Dhumal

    BJP (Sujanpur)
  • LOST

    Satpal Singh Satti

    BJP (Una)
  • WON

    Virbhadra Singh

    INC (Arki)
  • WON

    Suresh Bhardwaj

    BJP (Shimla)
  • WON

    Vikramaditya Singh

    INC (Shimla Rural)
  • WON

    Narinder Bragta

    BJP (Jubbal Kotkhai)
»
3-min read

Wholesale Inflation Slows to 3.57%, Good Monsoon Cools Veggie Prices

Wholesale inflation eased to 3.57 percent in September, reversing its seven-month uptrend, as good monsoon helped cool food prices, prompting the industry to demand interest rate cut to boost economic activity.

Press Trust Of India

Updated:October 14, 2016, 10:03 PM IST
facebookTwittergoogleskypewhatsapp
Wholesale Inflation Slows to 3.57%, Good Monsoon Cools Veggie Prices
Good monsoon helped cool food prices, prompting the industry to demand interest rate cut to boost economic activity. (FILE PHOTO: GETTY IMAGES) Representative image

New Delhi: Wholesale inflation eased to 3.57 percent in September, reversing its seven-month uptrend, as good monsoon helped cool food prices, prompting the industry to demand interest rate cut to boost economic activity.

The wholesale price index-based inflation, reflecting the annual rate of price rise, stood at 3.74 percent in August.

In September 2015, WPI inflation was (-)4.59 percent.

On Thursday, the official data had showed retail inflation falling to 13-month low of 4.31 percent in September.

After the release of WPI data, industry chambers gave accolades to the Reserve Bank for the 0.25 percentage point reduction in interest rate last week.

"It can be said that the anti-inflationary supply side measures of the government have been successful and rising inflation has been brought under control. In this context, the RBI governor needs to be congratulated for lowering rates in anticipation of a benign inflationary outlook," CII said.

Wholesale inflation had been on a rise since February this year.

During September, WPI inflation in vegetables witnessed deflationary pressures and was recorded at (-) 10.91 percent.

Inflation in this category had scaled a high of 28.45 percent in July.

This was aided by inflation for onion, which was at (-)70.52 percent.

Pulses inflation continued to rule high at 23.99 percent in September, according to the Commerce Ministry data.

Potato, a daily consumable vegetable, witnessed maximum inflationary pressure at 73.31 percent. Prices of fruits rose 14.10 percent during the month.

Overall, the food inflation basket showed good moderation with inflation at 5.75 percent in September, as against 8.23 percent in August.

Ficci said good monsoon and government action helped in abating the price level and indication are there that prices will remain benign.

"We do hope that going ahead banks will take a cue and further translate this into lower lending rates which is one of the key factors that can help boost IIP which continues to remain dismal," Ficci said.

India Ratings and Research said that both retail and WPI moderated in September primarily led by softening food prices.

"The trend is along expected lines and Ind-Ra believes it is likely to continue in the next month."

The all-powerful Monetary Policy Committee headed by RBI Governor Urjit Patel last week cut benchmark interest rates by 0.25 percent to 6.25 percent.

While he had signalled more tolerance towards inflation, the easing of CPI data was in line with the RBI's forecast for average 5 percent inflation in fourth quarter of 2016. This, many expect, would create more room for interest rate cuts.

Reasoning the rate cut, RBI had said: "The Government has announced several measures to cool food inflation pressures, especially with regard to pulses. These measures should help in moderating the momentum of food inflation in the months ahead. This has opened up space for policy action".

The September inflation print for manufactured articles read at 2.48 percent, as against 2.42 percent in August.

The rate of inflation in sugar was at 32.92 percent and that for petrol was 1.25 percent.

ICRA Senior Economist Aditi Nayar said despite flaring up of crude oil prices it expects WPI inflation to remain below 4 percent in third quarter.

"Subsequently, WPI inflation is likely to rise to as much as 4.5 percent in January-March 2017."

The WPI inflation for July has been revised upwards at 3.72 percent, against provisional estimate of 3.55 percent.

Read full article
Next Story
facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
SBI 318.90 +6.65 +2.13
Reliance 921.00 +1.25 +0.14
M&M 1,521.45 +38.05 +2.57
Maruti Suzuki 9,309.10 +143.20 +1.56
Adani Enterpris 159.95 +4.75 +3.06
Company Price Change %Gain
Maruti Suzuki 9,308.05 +144.05 +1.57
ICICI Bank 308.85 +5.40 +1.78
Bharti Airtel 526.70 +7.75 +1.49
Petronet LNG 254.45 +6.50 +2.62
Bombay Dyeing 280.80 +14.10 +5.29
Top Gainers
Company Price Change %Gain
Vedanta 308.40 +10.40 +3.49
Hindalco 249.65 +6.90 +2.84
Cipla 591.65 +15.20 +2.64
M&M 1,521.45 +38.05 +2.57
Sun Pharma 529.80 +11.45 +2.21
Company Price Change %Gain
M&M 1,522.85 +40.20 +2.71
Cipla 590.35 +14.45 +2.51
Sun Pharma 528.85 +10.65 +2.06
SBI 318.90 +6.15 +1.97
Wipro 295.30 +5.50 +1.90
Top Losers
Company Price Change %Gain
Yes Bank 311.15 -4.75 -1.50
HPCL 437.80 -6.00 -1.35
Tech Mahindra 494.00 -6.75 -1.35
Coal India 267.65 -3.35 -1.24
UPL 710.05 -7.75 -1.08
Company Price Change %Gain
Coal India 268.05 -3.00 -1.11
Infosys 1,015.35 -8.10 -0.79
BHEL 89.30 -0.60 -0.67
ITC 263.10 -1.65 -0.62
Kotak Mahindra 1,023.55 -5.45 -0.53

Live TV

File is:/article-scroll-new.php