1.55% of WPI Inflation in November, highest among last nine months
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Office of Economic Adviser under the Ministry of Finance released Wholesale Price Index for November 2020 and it measured at 1.55 per cent against 0.58 per cent of the same month last year. The latest measure is also greater than the WPI inflation rate for months of September and October which are 1.32% and 1.48% respectively. Increase in WPI for November was mainly driven by an increase in the cost of manufacturing production.
Among the groups of commodities under WPI, an increase in inflation rate was detected in Fuel & Power, while Food Index slightly decreased in November (158.9) as compared with October (159.3).
"The WPI for November printed in line with our expectation, recording a mild uptick relative to October, as higher core and fuel inflation was offset by a base effect led cooling in the inflation for primary food articles, minerals and crude petroleum" Aditi Nayar, Principal Economist at ICRA commented