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WPI inflation eases to 3.58% in December

Author: IANS/Monday, January 15, 2018/Categories: Economy

WPI inflation eases to 3.58% in December

New Delhi, Jan 15 - India's annual rate of inflation based on wholesale prices eased to 3.58% in December, official data showed.

According to data from the Ministry of Commerce and Industry, the wholesale price index (WPI), with the revised base year of 2011-12, was 3.93% in November.

However, the WPI-based inflation rate was higher than 2.10% reported for the corresponding month of the previous year.

"Build up inflation rate in the financial year so far was 2.21% compared to a build up rate of 3.71% in the corresponding period of the previous year," the ministry said in a statement.

On a sequential basis, the expenses on primary articles, which constitute 22.62% of the WPI's total weightage, edged higher by 3.86%, from an increase of 5.28% in November.

The prices of food articles rose by 4.72% from an acceleration of 6.06% in the previous corresponding month.

On a year-on-year (YoY) basis, food prices in December rose by 4.72% from a rise of only 0.07%.

In terms of individual items, onion prices soared higher by 197.05%, whereas for potatoes it plunged by (-)8.40%.

In contrast, the overall vegetable prices in November rose by 56.46%, against a fall of (-)26.88% in the same month a year ago.

As per data, wheat became cheaper by (-) 8.47% on YoY basis and the prices of pulses came down by (-) 34.60%, but paddy became dearer by 3.19%.

On the other hand, protein-based food items such as eggs, meat and fish became expensive by 1.67% during the month.

Prices of the other major group under the WPI, manufactured products, which comprise nearly 64.23% of the index, recorded a 2.61% rise.

The sub-category of manufactured food products registered a decline of (-) 0.23%.

Fuel and power prices accelerated by 9.16%.

Product-wise, the price of high-speed diesel rose by 12.68% during December while that of petrol climbed by 8.80% and for LPG by 21.14%.

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