Wholesale Price Index for November 2023. (File Photo)
India’s wholesale inflation, primarily based on the Wholesale Price Index, rises to 0.26 per cent in November 2023
India’s wholesale inflation, primarily based on the Wholesale Price Index (WPI), rose on the quickest fee in eight months to 0.26 per cent in November 2023 primarily as a result of rising meals costs, in response to the most recent official information. The WPI inflation in October 2023 had stood at (minus) 0.52 per cent.
The WPI inflation was in the damaging zone for the previous seven months and was at (-) 0.52 per cent in October.
“Positive rate of inflation in November, 2023 is primarily due to increase in prices of food articles, minerals, machinery & equipment, computer, electronics & optical products, motor vehicles, other transport equipment and other manufacturing etc,” the Commerce and Industry Ministry stated in an announcement.
Food inflation rose to 8.18 per cent in November, from 2.53 per cent in October.
Official information launched earlier this week confirmed retail or client value-primarily based inflation rising at its quickest tempo in three months at 5.55 per cent in November, pushed by spike in meals costs.
The Reserve Bank in its bi-month-to-month financial coverage final week, held rates of interest regular and flagged dangers of rising meals inflation in November and December.
Meanwhile, India’s retail inflation, primarily based on the Consumer Price Index (CPI), in November 2023 additionally elevated to five.55 per cent amid low base and rising meals costs, in response to the most recent inflation information launched lately. Though the 5.55 per cent CPI inflation is much from the RBI’s medium-time period goal degree of 4 per cent, it’s throughout the tolerance restrict of two-6 per cent.
