Wholesale inflation at -0.52% in October; Within the destructive zone for the seventh month

Wholesale value index-based inflation remained in destructive territory for the seventh consecutive month in October at (-) 0.52 %, because of decrease meals costs.

The CPI-based inflation fee has been in destructive territory since April and was at (-) 0.26 % in September 2023.

In October final 12 months, the wholesale value index reached 8.67 %.

Meals inflation fell to 2.53 % in October. It was 3.35 % the earlier month.

“The destructive inflation fee in the course of the month of October 2023 is especially because of the lower in costs of chemical substances and chemical merchandise, electrical energy, textiles, primary metals, meals merchandise, paper and paper merchandise, and so forth., in comparison with the identical month of the earlier 12 months,” the Ministry of Commerce and Trade mentioned on Tuesday.

The inflation fee within the gas and electrical energy basket was (-) 2.47 % in October, in comparison with (-) 3.35 % in September.

In manufactured merchandise, the inflation fee reached (-) 1.13 %, in comparison with (-) 1.34 % in September.

Information launched on Monday confirmed that annual retail or shopper value inflation for October reached its lowest degree in 5 months at 4.87 %.