Economy

Wholesale inflation surged to 2.59% in December

Among food articles, vegetable prices surged by 69.69% mainly on account of onions, which witnessed 455.83% jump in prices

Among food articles, vegetable prices surged by 69.69% mainly on account of onions, which witnessed 455.83% jump in prices   | Photo Credit: Yogesh Mhatre

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The rate of price rise for food articles rose to 13.12% during December as against 11% a month earlier, while for non-food articles it rose nearly four-fold to 7.72% from 1.93% in November

Wholesale prices based inflation surged to 2.59% in December, as against 0.58% in November due to increase in prices of food articles like onion and potato.

The annual inflation, based on monthly wholesale price index (WPI), was at 3.46% during the same month a year ago (December 2018).

The rate of price rise for food articles rose to 13.12% during December as against 11% a month earlier, while for non-food articles it rose nearly four-fold to 7.72% from 1.93% in November, showed the data released by the Ministry of Commerce and Industry on Tuesday.

Among food articles, vegetable prices surged by 69.69% mainly on account of onions, which witnessed 455.83% jump in prices, followed by potato at 44.97%.

The consumer price index based retail inflation, as per data released on Monday, spiked to over a 5-year high of 7.35% in December due to costlier food products.

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Printable version | Jan 18, 2020 6:35:06 AM | https://www.thehindu.com/business/Economy/wholesale-inflation-surges-to-259-in-december/article30565192.ece

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