Wholesale inflation eases to 21-month low in November

Food, energy and prices of manufactured products eased, indicating that the surge in input costs in the immediate aftermath of the Ukraine conflict is cooling down

Saurav Anand
First Published14 Dec 2022, 01:52 PM IST
India Wholesale inflation eases to 21-month low in November. (File Photo: PTI)
India Wholesale inflation eases to 21-month low in November. (File Photo: PTI)

NEW DELHI: India’s annual wholesale price index (WPI) inflation fell to its lowest in 21 months in November, driven by an easing prices of food, fuel and manufactured items, official data showed on Wednesday.

The WPI for November was 5.85% year-on-year. This was the second consecutive month when WPI stayed below the double-digit mark. Prior to October, wholesale inflation had remained above 10% for 18 straight months since April 2021.

WPI inflation was at 8.39% in October 2022, and 14.87% in November 2021.

“Decline in the rate of inflation in November 2022, is primarily contributed by fall in prices of food articles, basic metals, textiles, chemicals & chemical products and paper & paper products as compared to the corresponding month of the previous year,“ the commerce and industry ministry said.

According to the data, inflation in food articles in November was at 1.07% against 8.33% in the previous month.

Food groups that saw a decline are vegetables (-20.08% in November this year vs 3.44% last year); eggs, meat and fish (2.27% in November this year vs 9.4% last year); cereals (1.07% in November this year vs 4.82% last year); pulses (0.56% in November this year and 2.84% last year); and fruits (-1.07% in November this year vs 15.50% last year), it said.

The fuel and power inflation continued to fall sharply, coming in at 17.35% as against 23.17% in October, while in manufactured products, it was 3.59% in November.

The WPI inflation figures come after the latest data recently showed Consumer price inflation (CPI) dropped from 6.77% in October this year to an 11-month low of 5.88% with food prices seeing sharp cooling.

This was the first time since February 2021 that the wholesale inflation has been lower than retail inflation. In February 2021, wholesale inflation was 4.83% and retail inflation at 5.03%.

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First Published:14 Dec 2022, 01:52 PM IST
HomeEconomyWholesale inflation eases to 21-month low in November

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