The wholesale price-based inflation rose to a 9-month high of 1.55 per cent in November as manufactured products turned costlier, while food prices eased. The WPI inflation was 1.48 per cent in October 2020 and 0.58 per cent in November last year.
This is the highest level of Wholesale price index-based (WPI) inflation since February, when it was 2.26 per cent.
While food articles saw softening in inflation in November, manufactured items witnessed hardening of prices.
also read
- Normal monsoon predicted for 2024. Is it enough to bring down inflation?
- With inflation likely to cool and growth strong, shallow rate cuts likely in the second half of FY25
- Inflation has slid again in Europe. What does this mean for interest rates?
- Retail inflation at 5.09 per cent in February, almost unchanged from January
Food inflation in November stood at 3.94 per cent, against 6.37 per cent in the previous month. The rate of price rise in vegetables and potato remained high at 12.24 per cent and 115.12 per cent during the month.
Inflation in non-food articles was higher at 8.43 per cent in November. Fuel and power basket softened to (-) 9.87 per cent in November.
The RBI in its monetary policy earlier this month had said that inflation will remain elevated, barring transient relief in the winter months. It had projected retail inflation, based on consumer price index, at 6.8 per cent in the October-December quarter.
