Source: The Hindu Business Line, Dec 16, 2019
New Delhi: Wholesale inflation fell to 0.58 per cent in November 2019, down from 4.47 per cent in November 2018. Sequentially, wholesale inflation reported an increase, rising from 0.16 per cent in October 2019, according to a statement by the Ministry of Commerce and Industry.
The blow for consumers was softened by cheaper LPG and Crude Petroleum prices, but they had to shell out much more for expensive onions, potatoes, vegetables and cereals during November 2019.
An official statement said that the Wholesale Price Index (WPI) for all commodities for November 2019 rose by 0.10 per cent to 122.3 from 122.2 for October 2019.
In the overall index, the highest increase was reported in onion prices. The index representing onion inflation rose to 172.30 per cent in November 2019, compared to November 2018. During November 2018, the index had reported a decline of 47.60 per cent compared to onion prices in November 2017.
Since onions represent just 0.16 per cent of the WPI, the spurt could not reflect much in the overall wholesale inflation.Read the rest of this entry »