New Delhi, Dec 16 || India’s annual rate of inflation based on the Wholesale Price Index (WPI) eased to 1.89 per cent in November compared to 2.36 per cent in October as the rise in food prices slowed during the month with the fresh crop arriving in the market, data released by the Commerce and Industry Ministry on Monday showed.
“The positive rate of inflation in November 2024 is primarily due to an increase in prices of food articles, food products, other manufacturing, textiles, machinery & equipment,” according to an official statement.
Food inflation slowed to 8.29 per cent from 11.59 per cent in October as vegetable prices, which had skyrocketed by as much as 63 per cent, went up by a lower 28.57 per cent during the month. Onion prices, for instance, rose by a mere 2.85 per cent in November, compared to 39.25 per cent in October.
Fuel prices declined by (-) 5.83 per cent during the month slowing the overall rise in inflation.
The inflation in manufactured goods edged up to 2 per cent in November from 1.5 per cent in October.
Wholesale price inflation also has a direct bearing on CPI inflation as cheaper wholesale prices also translate into lower retail prices.
Official figures released last week showed that India’s retail price inflation declined to 5.48 per cent in November as the increase in prices of food items eased during the month bringing relief to household budgets.