New Delhi: Due to a decline in food prices, the wholesale inflation for the month of November has eased to 1.89 percent compared to 2.36 percent in the previous month of October, according to data released by the government on Monday.
However, it still remains high on a year-on-year basis as compared to November 2023. In November last year, wholesale inflation was 0.39 percent, the Ministry of Commerce & Industry said in a statement.
The Food Index (weight 24.38%), consisting of ‘food articles’ from the primary articles group and ‘food products’ from the manufactured products group, decreased from 201.2 in October 2024 to 200.3 in November 2024. The rate of inflation based on the WPI Food Index decreased from 11.59% in October 2024 to 8.92% in November 2024.
Manufactured Products (Weight 64.23%), the index for this major group increased by 0.35% to 143.0 (provisional) in November, 2024, from 142.5 (provisional) for the month of October, 2024. Out of the 22 NIC two-digit groups for manufactured products, 10 groups witnessed an increase in prices, 10 groups have witnessed a decrease in prices, and 2 groups witnessed no change in prices.
Some of the important groups that showed month-over-month increases in prices are the manufacture of food products; furniture; other non-metallic mineral products; pharmaceuticals, medicinal chemicals, and botanical products; electrical equipment, etc. Some of the groups that witnessed a decrease in prices are the manufacture of basic metals; rubber and plastics products; chemicals and chemical products; computer, electronic, and optical products; motor vehicles, trailers, and semi-trailers; etc. in November 2024 as compared to October 2024.
The index for Primary Articles (Weight 22.62%) group decreased by 1.20% to 197.9 (provisional) in November 2024 from 200.3 (provisional) for the month of October 2024. Prices of food articles (-1.83%) and crude petroleum & natural gas (-0.41%) decreased in November 2024 as compared to October 2024. The price of minerals (2.10%) and non-food articles (0.56%) increased in November 2024 as compared to October 2024.
While the index for Fuel and Power (Weight 13.15%) group increased by 0.41% to 147.1 (provisional) in November, 2024, from 146.5 (provisional) for the month of October, 2024. The price of mineral oils (0.72%) increased in November, 2024, and the price of electricity generation (-0.07%) decreased in November, 2024 as compared to October, 2024. The price of coal remained the same as in the previous month.
UNI
