WPI Inflation dips to 5-month low of 3.15% in Nov

14/12/2016 13:12

India’s wholesale price index (WPI), the price of a representative basket of wholesale goods, eased to five-month low of 3.15 per cent in November as compared to 3.39 per cent in the previous month, bolstering the case for interest rate cuts from the Reserve Bank of India.

“The annual rate of inflation, (Base: 2004-05=100), stood at 3.15 per cent for the month of November, 2016 as compared to 3.39 per cent for the previous month,” according to data released by the ministry of commerce & industry on Wednesday.

The WPI stood at -2.04 per cent during the corresponding month of the previous year, highlighted the report.

The official WPI for ‘all commodities’ for the month of November, 2016 rose by 0.1 per cent to 183.1 (provisional) from 182.9 (provisional) for the previous month.

The index for food articles group declined by 1 per cent to 276.1 (provisional) from 278.8 (provisional) for the previous month due to lower price of fruits & vegetables.

Meanwhile, the index for fuel and power group rose by 1.8 per cent to 190.7 (provisional) from 187.3 (provisional) for the previous month due to higher price of aviation turbine fuel, furnace oil and high speed diesel and petrol.

In a major boost to economy, retail inflation fell to a two-year low of 3.63 per cent during the month of November following the Centre’s demonetisation drive that led to lower consumer spending on various food items including vegetables.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s