WPI inflation recorded at 1.89% for November
The annual rate of inflation based on the all-India wholesale price index (WPI) number is 1.89% (provisional) for the month of November, data released by the government said on Monday.
The annual rate of inflation based on the all-India wholesale price index (WPI) number is 1.89% (provisional) for the month of November, data released by the government said on Monday.
The slowing inflation marks a reversal of the increasing trend in the previous two months when the inflation rate touched 6.21 per cent in October.
India's retail inflation in November was recorded at 5.48%, compared to 6.21% in October, data from the Ministry of Statistics and Programme Implementation said.
The three-day Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meeting began on Wednesday, as the central bank seeks to balance fostering economic growth with managing inflation.
India's retail inflation jumped in October 6.21 per cent, a 14-month high, driven by elevated food inflation in a few vegetables.
Speaking at a media event, the Governor assured that the RBI is prepared to act with strength and agility, likening the Indian economy to a tiger for its resilience amid fluctuating global conditions.
The corresponding figures for August were 5.96 per cent for agricultural labourers and 6.08 per cent for rural labourers, according to the Labour Ministry data.
The Reserve Bank of India’s (RBI) recent decision to maintain the key interest rate at 6.50 per cent while shifting its policy stance to “neutral” represents a strategic recalibration in its approach to balancing inflation control and economic growth.
The month over month change in WPI index for September 2024 stood at 0.06% as compared to August 2024.
With prices of essential commodities, including vegetables shooting up considerably on the eve of the Durga Pujas, chief secretary Manoj Pant will convene a high-level meeting at the state secretariat tomorrow in order to put a check on price rise, said sources at Nabanna.
