NEW DELHI: Continuing decline in food prices, including vegetables, pulled wholesale price inflation to a five-year low of 1.77 per cent in October. The Wholesale Price Index (WPI) based inflation was at 2.38per cent in September and 7.24 per cent in October 2013.
The sharp drop in WPI inflation, which fell for the fifth month in a row, came at the back of retail inflation declining to a record low of 5.52 per cent in October.
The rate of price rise in onion contracted 59.77 per cent as compared to a contraction of 58.12 per cent in September.
In case of vegetables, the contraction was 19.61 per cent, while in protein rich items
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