In a big relief for the consumers, the wholesale inflation eased to 1.89 per cent in November, food prices, especially vegetables turned cheaper, as per the government data released on Monday. The Wholesale Price Index (WPI) based inflation was 2.36 per cent in October 2024. However, it still remains high as compared to the November 2023. In November last year, wholesale inflation was 0.39 per cent.
As per the latest data, inflation in food items saw huge decline to 8.63 per cent in November. In October, it was 13.54 per cent in October. The plunge was led by a dip in vegetable inflation which stood at 28.57 per cent in November. This was 63.04 per cent in October.
Potato prices still remain high
However, the Inflation in potato continued to be high at 82.79 per cent. In onion, the wholesale inflation fell sharply to 2.85 per cent in November. Among others, the fuel and power category also witnessed a deflation. The wholesale inflation in fuel and energy category in November stood at 5.83 per cent, against a deflation of 5.79 per cent in October.
In manufactured items, the inflation stood at 2 per cent in November which was 1.50 per cent in October. Earlier in October, the wholesale inflation has risen to 2.36 per cent. Moreover, the food prices were up at 11.59 per cent.
Components of wholesale inflation under WPI
Notably, food is the second largest component of wholesale inflation with 24.38 per cent weightage. The largest component is manufacturing which holds 64.23 per cent weightage. Primary articles, and fuel and power hold 22.62 per cent and 13.15 per cent weightage respectively.
The government releases index numbers of wholesale prices on a monthly basis on the 14th of every month (or the next working day). The index numbers are compiled with data received from institutional sources and selected manufacturing units across the country.
