Wholesale inflation back in positive zone after 7 months, at 0.26% in November

November 2023 WPI inflation rises to 0.26%, driven by 8.18% food inflation & other commodities.

After seven months of deflation, India’s wholesale prices rose 0.26% in November compared to a -0.52% rate in October.

The Commerce and Industry Ministry attributed the uptick primarily to an increase in prices of food articles, minerals, machinery & equipment, computer, electronics & optical products, motor vehicles, other transport equipment and other manufactured goods.

Wholesale food prices rose 4.7% in November compared to just 1.07% in the previous month, and were up 2% on a month-on-month basis.

Prices of primary articles rose 4.8% in November from 1.8% in October, while fuel and power prices were 4.6% lower than November last year.

Manufactured products’ prices remained in deflation thought at the slightest rate since at least three months, declining 0.64% from November 2022 levels. Compared to October though, they were higher by 0.07%.

Within primary articles, food articles’ prices were up a sharp 8.2% with paddy and vegetables up 10.44%, pulses rising 21.64%, onions up 101.24%, milk 8% and fruits 8.4%.

While cereals inflation stood at 7.12% compared to almost 13% a year ago, wheat prices were up 2.55% from 18.1% last November.