There was some decline in the wholesale inflation rate in December 2021 to 13.56%, in November it was 14.23 percent
New Delhi :
The wholesale inflation rate, which has been increasing for four consecutive months, has stopped somewhat in the month of December. According to the data released by the government, the Wholesale Inflation Index (WPI) stood at 13.56 percent in the last month i.e. December. It was 14.23% in the month of November. Higher inflation in November 2021 was mainly due to rise in prices of mineral oil, base metals, crude petroleum, natural gases, chemicals, food products etc. WPI inflation was 14.23 per cent in November 2021. After the decline in wholesale price-based inflation, experts believe that the Reserve Bank of India (RBI) may keep rates stable in its monetary policy next month. RBI will announce monetary policy on 9 February.
read also
Wholesale price-based inflation has remained in double digits for the ninth consecutive month since April. Inflation in November last year was 14.23 per cent while in December 2020 it was 1.95 per cent. Inflation in food articles reached a 23-month high of 9.56 per cent in December. It was 4.88 per cent in November. Vegetable prices increased to 31.56 per cent in December from 3.91 per cent in November. In the food items category, pulses, wheat, cereals and paddy increased in December compared to November, while potato, onion, fruit and egg, meat And the prices of fish softened.
In a statement, the Ministry of Commerce and Industry said, “Inflation in December 2021 was mainly due to the growth of mineral oils, basic metals, crude petroleum and natural gas, chemical and chemical products, food products, textiles, paper and paper products etc. Inflation in manufactured goods was 10.62 per cent in December as compared to 11.92 per cent in the previous month. Inflation in fuel and power segment was 32.30 per cent in December. As against 39.81 percent in November. According to the data released earlier, retail inflation increased to 5.59 percent in December 2021 due to increase in the prices of food items. In December 2021, it was 0.1 percent, which reached a 23-month high of 9.6 percent in December 2021.(also input from language)