India's wholesale prices fall 0.52% in October to stay in negative zone for 7th month

A Reuters poll with views from economists had predicted a 0.20% decline in the wholesale price index for October.

"The negative rate of inflation in October, 2023 is primarily due to fall in prices of chemicals and chemical products, electricity, textiles, basic metals, food products, paper and paper products, etc. as compared to the corresponding month of previous year," India's commerce ministry said in a statement.


Food index inflation in October was at 1.07%, easing from 1.54% in September and 6.19% in August.

Inflation in primary articles continued to ease, with a 1.82% reading in October as against 3.70% and 6.73% in September and August.

Manufactured products prices fell 1.13%, narrower than 1.34% and 2.30% declines in September and August.

Data showed on Monday that retail inflation eased 4.87% in October on an annual basis, from 5.02% in September.