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Updated on: Tuesday, December 17, 2019, 08:20 AM IST

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.
An Indian customer purchase vegetables from a shop at a market in New Delhi.
 | AFP Photo

An Indian customer purchase vegetables from a shop at a market in New Delhi. | AFP Photo

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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.

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Published on: Tuesday, December 17, 2019, 08:20 AM IST
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