India’s WPI inflation falls further to 5.85% in November

The WPI inflation was 8.39 per cent in October 2022.

India’s annual rate of inflation, based on monthly wholesale price index (WPI), declined further to 5.85 per cent (provisional) in November 2022, over November 2021, according to the ministry of commerce & industry. India’s WPI inflation had gone up to a record 15.88 per cent in May 2022, compared to single digit figure of 7.39 per cent in March 2021.

“Decline in rate of inflation in November 2022 is primarily contributed by fall in prices of food articles, basic metals, textiles, chemicals & chemical products and paper & paper products as compared to the corresponding month of the previous year,” the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT), under the ministry of commerce and industry, said.

The official WPI for all commodities (Base: 2011-12 = 100) for the month of November 2022 was 152.1 compared to previous month’s 152.5.

The index for manufactured products (weight 64.23 per cent) for November 2022 decreased to 141.5 from 141.9 for the month of October 2022. The index for ‘Manufacture of Textiles’ sub-group too decreased to 140.3 from previous month’s 143.4. However, the index for ‘Manufacture of Wearing Apparel’ increased slightly to 149.4 from previous month’s 149.3.

The index for primary articles (weight 22.62 per cent) decreased to 177.7 in November from previous month’s 181.0, while the index for fuel and power (weight 13.15 per cent) increased to 159.6 from 155.2 in October 2022.

Meanwhile, the all-India inflation rate for consumer price index (CPI) on base 2012=100 stood at 5.88 (provisional) in November 2022 compared to 6.77 (final) in October 2022 and 4.91 in November 2021, according to the National Statistics Office, under the ministry of statistics and programme implementation.

Fibre2Fashion News Desk (RKS)