Now wholesale prices jump in November

Accordingly, India's annual rate of inflation based on wholesale prices jumped to 0.58% in November from 0.16% in October.

AgenciesUpdated: Tuesday, December 17, 2019, 08:20 AM IST
article-image
An Indian customer purchase vegetables from a shop at a market in New Delhi. | AFP Photo

Mumbai: After retail inflation, the prices of essential commodities especially food items such as vegetables showed a massive rise in November on wholesale basis.

Accordingly, India's annual rate of inflation based on wholesale prices jumped to 0.58% in November from 0.16% in October.

However, on a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry showed a decelerating trend as inflation had risen to 4.47% during the corresponding period of 2018.

"Build up inflation rate in the financial year so far was 2% compared to a buildup rate of 4.56% in the corresponding period of the previous year," the Ministry said in its review of "Index Numbers of Wholesale Price in India" for November.

On a sequential basis, the expenses on primary articles, which constitute 22.62% of the WPI's total weightage, increased to 7.68% from 6.41%. The prices of food items increased at a faster rate of 11.08% from 9.80%.

Onion price increased by 172.30% in November while it was at 119.84% during October 2019. Overall, vegetable prices in November rose 45.32% against a rise of 38.91%.

However, the cost of fuel and power, which commands 13.15% weightage, deflated by (-)7.32% from a decline of (-)8.27%.

On a YoY basis, expenses on primary articles, which constitute 22.62% of the WPI's total weightage, increased to 7.68% from a rise of 0.59% in November last year.

The YoY prices of food items increased YoY at a faster rate of 11.08% from (-)3.24%. Onion price increased by 172.30% while it was at (-)47.60% during the corresponding period of last fiscal.

(If you have a story in and around Mumbai, you have our ears, be a citizen journalist and send us your story here. )

(To receive our E-paper on WhatsApp daily, please click here.  To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

RECENT STORIES

Siemens Limited appoints Deepak S. Parekh and Shyamak R. Tata as Directors

Siemens Limited appoints Deepak S. Parekh and Shyamak R. Tata as Directors

Sun Pharma acquires Disperzyme and Phlogam brands to its anti-inflammatory portfolio

Sun Pharma acquires Disperzyme and Phlogam brands to its anti-inflammatory portfolio

United Forum of Bank Unions defers strike by IDBI Bank

United Forum of Bank Unions defers strike by IDBI Bank

Adani Enterprises shares in positive after 413 page counter to Hindenburg Research report

Adani Enterprises shares in positive after 413 page counter to Hindenburg Research report

Post cancellation of bank strike union meeting to be held on January 31

Post cancellation of bank strike union meeting to be held on January 31