New Delhi: After the decline in retail inflation, there has now been a huge decline in wholesale price index-based inflation. Wholesale inflation rose to 5.85 percent in November. This is the lowest level of WPI in the last 21 months. Earlier in October, this figure was 8.39 percent. Along with retail, the central government and RBI (RBI) have also got relief due to the reduction in the wholesale inflation rate.

While efforts were being made by the RBI for a long time to reduce the level of inflation. Wholesale inflation (WPI) has come down due to the decline in crude oil prices. It was at 7.89 percent in March 2021. Since April 2021, wholesale inflation had remained above double digits i.e. 10 percent. Subsequently, it was in single digits for the first time in October 2022.

Earlier in November, the retail inflation rate came down to an 11-month low of 5.88 percent. According to the data released by NSO, this is the first time in 11 months that retail inflation has come down below the RBI's satisfactory level. The central bank has the responsibility of keeping the retail inflation rate between 2 and 6 percent. Retail inflation had risen to 6.77 percent in October 2022. It was 4.91 percent in November last year.

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