India WPI Data November 2022: India’s wholesale inflation eases to a 21-month low of 5.85% in November, govt data shows

Last month’s wholesale inflation figure is at its lowest level since February 2021 when it was at 4.83 per cent.

The WPI for the month of September was revised to 10.55 per cent from 10.70 per cent, the data showed. The WPI in November 2021 was 14.87 per cent.

“Decline in rate of inflation in November, 2022 is primarily contributed by fall in prices of food articles, basic metals, textiles, chemicals & chemical products and paper & paper products as compared to the corresponding month of the previous year,” the commerce ministry release said.

The food articles segment eased to 1.07 per cent in November, the data showed. In the previous month, this was 8.33 per cent. The month-on-month easing can be attributed to fall in prices of vegetables, onion and fruits.

Vegetable prices contracted (-)20.08 per cent last month, against a rise of 17.61 per cent in October, the data showed. Onion prices contracted (-)19.19 per cent from (-)30.02 per cent a month ago and that of fruits slipped (-)1.07 per cent in November from 0.23 per cent in the prior month.

Additionally, paddy prices eased to 6.45 per cent last month, against 6.63 per cent in October while potato prices dipped to 13.75 per cent from 44.97 per cent, the data showed. Eggs, meat & fish eased to 2.27 per cent from 3.97 per cent a month ago.

On the other hand, prices of cereals climbed to 12.85 per cent last month from 12.03 per cent in October. During the same period, wheat spiked to 18.11 per cent from 16.25 per cent and that of milk rose to 6.03 per cent from 5.53 per cent.

The fuel and power segment eased to 17.35 per cent last month from 23.17 per cent in October. LPG prices contracted (-)13.40 per cent from 4.82 per cent month ago, HSD (High-Speed Diesel) slipped to 42.10 per cent from 43.05 per cent and petrol prices eased to 14.11 per cent from 25.02 per cent.

The manufactured products segment eased to 3.59 per cent in November from 4.42 per cent month ago.

In a separate data released earlier this week, the country’s retail inflation, measured by the Consumer Price Index (CPI) eased to an 11-month low of 5.88 per cent in November.