India's November WPI Eases To 1.89; Food Inflation Dips To 8.63%

Commerce Ministry posted monthly update of the WPI data (wholesale price index), the price increases of food items, food products, other manufactures, textiles, machinery, and equipment were the main cause of India's wholesale price index (WPI)-based inflation easing to 1.89 per cent in November. WPI inflation was 0.39 per cent in November 2023 and 2.36 per cent in October of current year.

Comparing November 2024 to October 2024, the WPI's month-over-month change was -0.06 pe cent.

According to statistics issued by the Ministry of Commerce and Industry, the index for primary products, which was 200.3 (provisional) in October 2024, dropped by 1.20 per cent to 197.9 (provisional) in November.

From 146.5 (provisional) in October to 147.1 (provisional) in November, the Fuel & Power index grew by 0.41 per cent. At 143.0 (provisional), the manufactured goods index grew by 0.35 per cent in November 2024.

Food items and gasoline, electricity

Additionally, according to the Ministry of Commerce & Industry's announcement, food item inflation decreased to 8.63 per cent in November from 13.54 per cent in October. From 8.09 per cent the month before, the major item inflation rate fell to 5.49 per cent.

In November, the gasoline and electricity inflation rate was -5.83 per cent, compared to -5.79 per cent in October. Additionally, the inflation rate for manufactured goods increased from 1.50 per cent in October to 2.00 per cent.

Vegetables inflation

Vegetable inflation in the food articles category fell sharply from 63.04 per cent in October to 28.57 percent in November. While the inflation rate for wheat was 8.35 per cent in November compared to 8.04 per cent in October, the inflation rate for pulses was 5.97 per cent.

The inflation rate for fish, meat, and eggs was 3.16 per cent. Onion and potato recorded inflation rates of 2.85 per cent and 82.79 per cent, respectively. Inflation for onions fell sharply from 39.25 per cent in October.