As Oil Prices Fall, India's Wholesale Prices Take Plunge As Well

14/10/2015 2:43 PM IST | Updated 15/07/2016 8:25 AM IST
Hindustan Times via Getty Images
GURGAON, INDIA - JULY 5: A Below Poverty Line Dalit family showing rotten wheat unfit for human consumption supplied to them under the Public Distribution Scheme at Lala Khedli village on July 5, 2013 in Gurgaon, India. President Pranab Mukherjee today signed the ordinance on Food Security to give nation's two-third (80 million) population the right to get 5 kgs of foodgrains every month at highly subsidised rates of Rs 1-3 per kg. The Food Security programme will be the biggest in the world with the government spending estimated at Rs 125,000 crore annually on supply of about 62 million tonnes of rice, wheat and coarse cereals to 67 per cent of the population. (Photo by Manoj Kumar/Hindustan Times via Getty Images)

NEW DELHI -- India's wholesale prices fell for an 11th straight month in September, plunging an annual 4.54 per cent primarily on the back of tumbling oil prices, government data showed on Wednesday.

The fall compared with a 4.43 per cent year-on-year decline forecast by economists in a Reuters poll and a provisional 4.95 percent fall in August.

The wholesale fuel prices fell 17.71 per cent from a year ago. Prices of manufactured goods declined 1.73 per cent on year in September.

Food prices, however, inched up 0.69 percent year-on-year last month.

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