According to government data released on Wednesday, India's wholesale price index (WPI) inflation slipped to a 21-month low of 5.85 per cent in November. In November 2021, it was at 14.87 per cent, while in October it was at 8.39 per cent.
“The decline in 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 ministry release said.
This is for the second time that the WPI remained below the double-digit mark. It was in October that it slipped into single digits for the first time in 18 months.
It was in the double-digit mark for 18 straight months, from April 2021 to September 2022.
The WPI had soared to 15.88 per cent in May 2022.
Reacting to the fall in WPI inflation, Finance Minister Nirmala Sitharaman said in Lok Sabha that due to periodic interventions by Prime Minister Narendra Modi, it had come down along with food inflation.
Inflation in food articles, vegetables and manufactured product
The inflation in food articles was at 1.07 per cent in November against 8.33 per cent in October. The inflation rate in vegetables was at (-) 20.08 per cent in November, compared to 17.61 per cent in October.
The inflation in the manufactured products was at 3.59 per cent while 'fuel and power' basket was at 17.35 per cent in November.
CPI inflation
According to the statistics ministry data the consumer price index (CPI) inflation in November fell to 5.88 per cent. This is the first time after February 2021 that the WPI inflation has gone below the CPI inflation.
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