Wholesale Price Index | Business Upturn

WPI inflation decreased in November to a 21-month low

Aryan Jakhar — Wed, 14 Dec 2022 18:27:42 +0000

According to official statistics released on Wednesday, India’s annual wholesale price index (WPI) inflation dropped to its lowest level in 21 months in November as food, petrol, and manufactured good prices declined. 5.85% was the WPI in November. This was the second month in a row that the WPI didn’t exceed the double-digit threshold.

Prior to October, wholesale inflation had been above 10% continuously since April 2021 for 18 straight months. “Decline in the rate of inflation in November 2022, is primarily contributed by fall in prices of food articles, basic metals, textiles, chemicals & chemical products and paper and paper products as compared to the corresponding month of the previous year,” the commerce and industry ministry said.

The results show that food item inflation in November was 1.07% compared to 8.33% in the preceding month.

Vegetables showed the largest decrease in November this year (-20.08% vs 3.44% last year), followed by eggs, meat, and fish (2.27% vs 9.4% last year), cereals (1.07% vs 4.82% last year), pulses (0.56% vs 2.84% last year), and fruit (-1.07% vs 15.50% last year).

Fuel and electricity inflation continued to decline significantly, coming in at 17.35% as opposed to 23.17% in October, while it was 3.59% for manufactured goods in November. “Although global commodity prices have remained volatile, the recent correction in such prices is likely to augur well for the core inflation. Overall, we project the WPI inflation to print at 5.6% in December 2022, similar to the 5.8% seen in November 2022, before easing to sub 2% by March 2023, on account of high base, unless commodity prices post a strong rebound, following re-opening in China,” credit rating agency Icra said in a report on the latest data.

The statistics come as consumer price inflation (CPI) declined sharply from 6.77% in October to an 11-month low of 5.88% in November.

Wholesale price index (WPI) inflation climbs four-month high of 14.55%

Aryan Jakhar — Mon, 18 Apr 2022 07:32:57 +0000

According to data provided by the commerce ministry on April 18. India’s wholesale price index (WPI) inflation climbed to a four-month high of 14.55 percent in March, up from 13.11 percent in February.

In March 2021, the WPI inflation rate was 7.89 percent. With another ten percent or higher print. WPI inflation has now been in double digits for 12 months in a row.

The increase in wholesale inflation in March follows statistics released on April 12 showing that the more closely-tracked headline retail inflation rate based on the Consumer Price Index (CPI) surged to a 17-month high of 6.95 percent in February.

While the Reserve Bank of India’s (RBI) policy aim is expressed in terms of CPI inflation. High WPI inflation is considered as a forerunner to increased consumer prices. As manufacturers pass on rising costs to their customers.

Wholesale price-based inflation rises to 14.55 per cent in March, against 13.11 per cent in February: Govt data

— Press Trust of India (@PTI_News) April 18, 2022

India’s WPI inflation picks up pace to 1.55% YoY

Sarthak Yadav — Mon, 14 Dec 2020 09:28:32 +0000

According to the data released by the Ministry of Commerce and Industry showed on Monday, that the wholesale prices have picked up in November with prices rising 1.55% from a year earlier.

As reported by the Reuters, the annual wholesale price index rose in November, mainly because of an increase in prices of manufactured items in the festival season, from a year earlier, compared to 1.62% rise predicted by analysts in a Reuters poll.

Retail inflation for industrial workers rose marginally to 5.91% in October from 5.62% in September this year mainly due to higher prices of certain food items.

India’s foreign exchange reserves continue to provide a bulwark against rupee volatility. India’s foreign exchange reserves rose $7.8 billion to touch a record high of $568 billion November. October saw net portfolio inflows of about $2.5 billion in India’s stock market, and November has seen a continuation of that trend

The all India Consumer Price Index for Industrial Workers (CPI-IW) for October 2020 increased by 1.4 points and stood at 119.5 points.