Now wholesale prices jump in Nov; WPI rises to 0.58%

New Delhi (IANS) After retail inflation, the prices of essential commodities especially food items such as vegetables showed a massive rise in November on wholesale basis.

Accordingly, India's annual rate of inflation based on wholesale prices jumped to 0.58 per cent in November from 0.16 per cent in October.

However, on a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry showed a decelerating trend as inflation had risen to 4.47 per cent during the corresponding period of 2018.

"Buildup inflation rate in the financial year so far was 2 per cent compared to a buildup rate of 4.56 per cent in the corresponding period of the previous year," the Ministry said in its review of "Index Numbers of Wholesale Price in India" for November.

On a sequential basis, the expenses on primary articles, which constitute 22.62 per cent of the WPI's total weightage, increased to 7.68 per cent from 6.41 per cent.

The prices of food items increased at a faster rate of 11.08 per cent from 9.80 per cent.

Onion price increased by 172.30 per cent in November while it was at 119.84 per cent during October 2019. Overall, vegetable prices in November rose 45.32 per cent against a rise of 38.91 per cent.

However, the cost of fuel and power, which commands 13.15 per cent weightage, deflated by (-)7.32 per cent from a decline of (-)8.27 per cent.

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