“WPI Inflation Falls to 2.36% in October 2024, Food Price Inflation Slows in November”
Wholesale price inflation (WPI) for October 2024 eased to 2.36%, marking a decline from the previous month’s 2.57%, according to government data released on Monday. This drop was attributed to a significant reduction in food inflation, particularly in vegetable prices.
Wholesale price inflation (WPI) for October 2024 eased to 2.36%, marking a decline from the previous month’s 2.57%, according to government data released on Monday. This drop was attributed to a significant reduction in food inflation, particularly in vegetable prices.
Food inflation softened considerably to 8.63% in November, compared to 13.54% in October, as a result of falling vegetable prices. Vegetable inflation saw a dramatic decline, standing at 28.57% in November, down from 63.04% in the previous month. The significant drop in vegetable prices contributed to the overall moderation in food inflation.
While most food prices eased, potato inflation remained stubbornly high, continuing to climb by 82.79% in November. Onions, on the other hand, experienced a notable decrease, with inflation dropping sharply to 2.85% from 18.18% in October.
The fuel and power category also reported a deflation of 5.83% in November, following a smaller deflation of 5.79% in October. Meanwhile, inflation in manufactured goods increased slightly to 2% in November, compared to 1.50% in October.
The data underscores a positive trend in easing inflationary pressures on essential goods, particularly food items, which had been a significant contributor to the higher cost of living in recent months. The government will be closely monitoring these developments to ensure stable pricing and continued economic growth in the coming months.
Sources By Agencies
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