Wholesale price-based inflation in November at 12-year high

WPI Inflation at 12 Year High: The common people do not seem to be getting relief from the extortionate inflation. The WPI based inflation rate for the month of November stood at 14.23 percent, as against 12.54 percent in the month of October. Whereas a year ago in November 2020, the wholesale price based inflation rate was 2.29 percent. This figure of wholesale inflation rate is at the highest level of 12 years. At the same time, for the last eight months, the wholesale inflation rate has been continuously above the double figures. The Ministry of Commerce and Industry has released these figures.

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Why did wholesale inflation rise in November

According to the data released by the government, the WPI has increased from 12.54 per cent to 14.23 per cent in November as compared to October. At the same time, the wholesale inflation rate of food items has increased from 3.06 percent to 6.70 percent during this period. The inflation rate of manufacturing items has increased to 11.92 percent, while the inflation rate of fuel has reached 39.81 percent.

The main reason for the increase in inflation in November 2021 has been the increase in the prices of food items, crude oil, mineral oil, basil metals, natural gas, chemicals. The prices of food articles have increased by 4.88 per cent as against -1.69 per cent in the previous month.

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The prices of vegetables have increased by 3.91 percent. During this period, the prices of pulses have increased by 2.9 percent, the prices of wheat by 10.14 percent and the prices of egg, mutton fish by 9.66 percent. The fuel and power index rose to 39.81 per cent. The index for the Manufacturing Products segment is up 11.92 per cent due to the rise in the prices of basic metals.

On Monday, the government released the data of retail inflation. In the month of November, the retail inflation rate has increased to 4.91 percent from 4.48 percent in the month of September.


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