India wholesale inflation rose to 14.23 per cent in the month of November this year, according to data released by the Ministry of Commerce & Industry. The November wholesale inflation on both sequential and year-on-year (YoY) basis was largely impacted by the commodity price hike of food items and manufactured products in the country.
Key Points:
1. The annual rate of inflation based on wholesale prices was 12.54 per cent in the month of October which increased to 14.23 per cent in November.
2. The Wholesale Price Index (WPI) recorded a massive surge on a YoY basis as the WPI rose from 2.29 per cent in November 2020 to over 14% in November 2022.
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3. "The high rate of inflation in November 2021 is primarily due to rise in prices of mineral oils, basic metals, crude petroleum and natural gas, chemicals and chemical products, food products, etc., as compared to the corresponding month of the previous year," the ministry said in its review of 'Index Numbers of Wholesale Price in India' for November.
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