India’s Wholesale Price Index (WPI) inflation for November 2024 stood at 1.89%, lower than 2.36% recorded in October, and below the estimated 2.10%, as per data released by the Ministry of Commerce & Industry.
Key highlights of WPI inflation data:
- Primary Articles inflation eased to 5.49% in November from 8.09% in October, driven by a 1.83% decline in food article prices.
- Fuel & Power group inflation remained in negative territory at -5.83%, slightly lower than -5.79% in October.
- Manufactured Products inflation rose to 2.00%, compared to 1.50% in the previous month.
- The WPI Food Index inflation cooled to 8.92% in November from 11.59% in October.
Month-over-Month changes:
- WPI fell marginally by 0.06% in November compared to a 0.90% increase in October.
- Primary Articles dropped 1.20% month-on-month, while Fuel & Power rose 0.41%. Manufactured product prices increased 0.35%.
The decline in WPI inflation is primarily attributed to softening food prices, including vegetables and pulses, alongside continued deflation in fuel and energy prices. However, higher prices in manufactured goods, especially food products and animal oils, supported inflation on a year-on-year basis.
The next WPI release for December 2024 is scheduled for January 14, 2025.
