India’s WPI: Inflation rises from 12.04% in October to 14.23% in November

The data released by the Ministry of Commerce and Industry says that the Wholesale Price Index (WPI) of India has seen a sudden spike of 2 per cent during the month of November.

The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT) has released the index numbers of Wholesale Price Index (WPI) (Base Year: 2011-12 for the month of November 2021.

The annual rate of inflation for the month of November 2021 is 14.23% as compared to 2.29% in November 2020. The high rate of WPI is due to the price rise of mineral oils, metals, crude oil & natural gas, chemicals and chemical products, food products etc as compared to November 2020.

The month over month change in various groups in WPI:

The index for this major group increased by (5.57%) to 168.6 in November 2021 from 159.7 for the month of October 2021. Prices of Crude Oil & Natural Gas (12.24%), Minerals (5.69%), Food Articles (5.81%) and Non-food Articles (2.15) increased in November 2021 as compared to October 2021.

The index for this major group increased by (5.61%) to 131.7 in November 2021 from 124.7 (provisional) for the month of October 2021. The price of Mineral Oils (8.76%) and Coal (1.16%) increased in November 2021 as compared to October 2021. However, the prices of electricity remain unchanged.

In the manufacturing sector, the index witnessed an increase in the prices of 16 types of industries while 6 of them have witnessed a decrease in prices in November 2021 as compared to October 2021. The increase in prices is mainly contributed by the manufacturing of metals, chemicals, textiles, paper and other non-metallic mineral products. Some of the industries that have witnessed a decrease in prices are the manufacturer of food products, electrical equipment and leather products.

The rate of inflation based on the WPI Food Index increased from 3.06% in October 2021 to 6.70% in November 2021.

As per the data released by the Ministry of Statistics and Programme Implementation, the retail inflation or Consumer Price Index (CPI) was increased from 4.48 per cent in October 2021 to 4.91 per cent in November 2021.

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