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Thursday, June 13, 2024

Nov. WPI inflation increases due to higher food costs

<p>After seven months in the negative, wholesale price-based inflation (WPI) is back in positive territory.</p>
<p><img decoding=”async” class=”alignnone wp-image-308400″ src=”https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-nov-wpi-inflation-increases-due-to-higher-food-costs-rupee-web-articlelarge-11zon.jpg” alt=”theindiaprint.com nov wpi inflation increases due to higher food costs rupee web articlelarge 11zon” width=”1182″ height=”743″ title=”Nov. WPI inflation increases due to higher food costs 12″ srcset=”https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-nov-wpi-inflation-increases-due-to-higher-food-costs-rupee-web-articlelarge-11zon.jpg 600w, https://www.theindiaprint.com/wp-content/uploads/2023/12/theindiaprint.com-nov-wpi-inflation-increases-due-to-higher-food-costs-rupee-web-articlelarge-11zon-150×94.jpg 150w” sizes=”(max-width: 1182px) 100vw, 1182px” /></p>
<p>According to official figures, wholesale inflation rose by 0.26% in November, marking a notable uptick from the (-) 0.52% level recorded in the previous month. The primary cause of this increase in WPI inflation was rising food costs.</p>
<p>The government statement said that the main reasons for November 2023’s positive rate of inflation were increases in the costs of food items, minerals, machinery and equipment, computers, electronics and optical goods, motor cars, other transportation equipment, and other production.</p>
<p>From 2.53% in October to 8.18% in November, food inflation increased sharply. In November 2023, the WPI index changed by 0.53% from October 2023 on a month-to-month basis. The main item index rose by 1.30% in November to 186.9 (provisional), with food article prices up by 2.62% from October.</p>

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