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.
The Reserve Bank of India (RBI) projected the retail inflation falling to below 5 per cent on considerable certainty on the food price outlook and some softening in the growth of input costs.
Congress MP Manish Tewari said, "It is a 'vote-on-account' budget which has only one purpose to keep the government solvent for the first quarter of the current fiscal year."
The annual rate of inflation based on the all India Wholesale Price Index (WPI) for December rose to 0.73 per cent, a nine-month high, according to government data on Monday.
The recent surge in inflation, charac- terised by supply chain disruptions, pent-up demand, and geopolitical events, prompts us to re-evaluate con- ventional wisdom on inflation management.
According to MoSPI data, the highest inflation was recorded in the food and beverages category at 8.70 per cent.
