November 14, 2014 1:25 PM

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Inflation slips to 5-year low of 1.77% in October

Continuing fall in food prices, including vegetables, pulled down wholesale price inflation to a 5-year low of 1.77 per cent in October. Wholesale price index, WPI, based inflation has now fallen for the fifth month in a row. Wholesale inflation had stood at 2.38 per cent in September this year, and 7.24 per cent in October last year. According to data released by the government, today, food inflation, which has been easing since May, fell to a nearly two-and-half year low of 2.7 percent in October.The rate of price rise in onions contracted 59.77 per cent, in the case of vegetables the contraction was 19.61 percent, and in protein rich items like eggs, meat and fish it was 2.58 per cent in October. Inflation in manufactured products, like sugar, edible oils and cement fell to 2.43 per cent in October, from 2.84 per cent in September. The sharp drop in WPI inflation comes on the back of retail inflation declining to 5.52 per cent in October.

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