Monthly inflation rises to 1.34 per cent in October

The annual rate of inflation based on monthly wholesale price index (WPI) stood at 1.34 per cent (provisional) for October 2009, compared with 0.50 per cent for the previous month, driven by high food prices.

Inflation rate stood at 11.06 per cent during the corresponding month of the previous year.

(In contrast, the weekly inflation rate based on the revised wholesale price index (base - 1 November 2008 = 100) stood at 9.16 per cent (provisional) for the week ended 31 October 2009 against 8.94 per cent (provisional) for the previous week (ended 24 October 2009) and 11.99 per cent during the corresponding week (ended 1 November 2008) of the previous year).

Build-up of inflation in the financial year so far was 6.13 per cent compared to a build-up of 5.99 per cent in the corresponding period of the previous year.

The price of food articles jumped 13.32 per cent in October. Wheat, rice, moong dal, tea, mutton, condiments and spices were among the commodities, which saw prices soaring during the month.

Wheat became dearer by 2 per cent, rice by 3 per cent while moong prices increased by 7 per cent during October compared with the previous month.