India’s wholesale inflation surges to 14.23% in November

NEW DELHI: India’s annual wholesale inflation rate surged to 14.23 per cent in November, showed data released by the ministry of commerce and industry on Tuesday.

“The annual rate of inflation is 14.23 per cent (provisional) for the month of November 2021 as compared to 2.29 per cent in November 2020,” a statement issued by the ministry said.

It noted that the high rate of inflation is primarily due to rise in prices of mineral oils, basic metals, crude petroleum and natural gas, chemicals and chemical products, food products and more.

In October, the wholesale price inflation was recorded at 12.54 per cent.

The wholesale price index (WPI) inflation, an indicator of prices in the wholesale market, fluctuates mainly due to changes in commodity prices globally.

The WPI Food Index in November rose to 6.70 per cent from 3.06 per cent in October.

The index for the manufactured products group increased by 0.89 per cent to 136.1 provisionally in November, while that for primary articles rose by 5.57 per cent to 168.6 provisionally.

The index for fuel and power went up by 5.61 per cent to 131.7 provisionally in the same period.

On Monday, retail or consumer price-based inflation for November rose to 4.91 per cent on the back of higher vegetable prices, the official data showed.

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