The government of India has released an annual report of Index Numbers of Wholesale Price Index (WPI) in India for December 2021 and for the month of October 2021.
As per the report, The annual rate of inflation is 13.56% (Provisional) for December 2021 (over December 2020) as compared to 1.95% in December 2020. The high rate of inflation in December 2021 is primarily due to the rise in prices of mineral oils, basic metals, crude petroleum & natural gas, chemicals and chemical products, food products, textile and paper and paper products etc. as compared to the corresponding month of the previous year.
The annual rate of inflation (Y-O-Y in %) in the segment of Fuel and Power is reported to be 32.30% for December 2021 and the Food Index is reported to be 9.24%.
Furthermore, The month over month change in WPI for the month of December, 2021 stood at (-) 0.35 % as compared to November, 2021. The change in the segment of Fuel and Power is reported to be (-) 2.66% and in Food Index it is (-) 0.82%.
According to the report, the petrol prices surged by 72.11% on December 21 against 85.38% in November 21. Whereas, in the previous year, the petrol prices fell by 12.94% in December 21. The vegetable prices increased by 31.56% in December 21 against 3.91% in the previous month.