The wholesale price-based inflation (WPI) spiraled up to a Nine-month peak of 1.55 percent in November as manufactured products turned costlier, while food prices eased. The WPI inflation was 1.48 percent in October 2020 and 0.58 percent in November last year, which is marked the highest level of Wholesale price index-based inflation since February, when it was 2.26 percent.
While food articles saw a softening in inflation in November, manufactured items witnessed a hardening of prices. Food inflation in November stood at 3.94 percent, versus 6.37 percent in the previous month. The rate of price rise in vegetables and potato remained high at 12.24 percent and 115.12 percent during the month. Inflation in non-food articles was higher at 8.43 percent in November. Fuel and power basket softened to (-) 9.87 percent in November.
The Reserve Bank of India in its monetary policy meeting earlier this month had said that inflation will remain high, except for transient relief in the winter months. It had projected retail inflation, based on consumer price index, at 6.8 percent in the October-December quarter..
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