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Food prices accelerate November WPI inflation

Kaumimarg.com | December 14, 2017 03:12 PM
Food prices accelerate November WPI inflation




New Delhi,  An exponential rise in food and fuel prices pushed India's annual rate of inflation based on wholesale prices to 3.93 per cent for November, official data showed on Thursday.

According to data from the Ministry of Commerce and Industry, the wholesale price index (WPI) accelerated to 3.93 per cent in November from 3.59 per cent during October and 1.82 per cent during November 2016.

On a sequential basis, the expenses on primary articles, which constitute 22.62 per cent of the WPI's total weightage, edged higher by 5.28 per cent, from an increase of 3.33 per cent in October.

The prices of food articles rose by 6.06 per cent from an acceleration of 4.30 per cent in October.

In terms of food prices, the YoY (Year-over-year) wholesale inflation rate for onion was higher by 178.19 per cent, whereas for potatoes it plunged by (-)40.73 per cent.

In contrast, the overall vegetable prices in November rose by 59.80 per cent, against a fall of (-)17.31 per cent in the same month a year ago.

As per data, wheat became cheaper by (-)5.75 per cent on YoY basis and the prices of pulses came down by (-)35.48 per cent, but paddy became dearer by 2.90 per cent.

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