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Volatility In Crude Oil Prices Could Weigh On Wholesale Inflation: Care Ratings

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Both retail and wholesale inflation have witnessed an acceleration in October'21. A favorable statistical base has masked the increase in prices of food items.

 

"Recovery in global demand and supply disruptions have been pushing up prices of raw materials including metals, plastics and electrical components. Volatility in the international crude oil prices could also weigh on the overall wholesale inflation in the near term," CARE Ratings has said.

Both retail and wholesale inflation have witnessed an acceleration in October'21. A favorable statistical base has masked the increase in prices of food items. Recovery in global demand and supply disruptions have been pushing up prices of raw materials including metals, plastics and electrical components. Volatility in the international crude oil prices could also weigh on the overall wholesale inflation in the near term.

Elevated retail prices in the fuel, edible oil, services component and a pick-up in prices of vegetables during October'21 have contributed to a slight acceleration in CPI inflation to 4.5% from 4.4% in the previous month. Keeping up with the movement in retail prices, wholesale inflation too has accelerated during the month.

 
Volatility In Crude Oil Prices Could Weigh On Wholesale Inflation: Care Ratings

Read more about: wpi cpi crude oil
Story first published: Tuesday, November 16, 2021, 9:00 [IST]
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