Economy

WPI inflation eases to 13.56% in December; food items, veggies see price rise

Inflation in food articles, however, witnessed an uptick on a month-on-month basis at 9.56 % in December, against 4.88% in November. File image.

Inflation in food articles, however, witnessed an uptick on a month-on-month basis at 9.56 % in December, against 4.88% in November. File image.

The wholesale price-based inflation bucked the 4-month rising trend in December 2021, and eased to 13.56%, mainly on account of softening in fuel, power and manufacturing items even though food prices hardened.

WPI inflation has remained in double digits for the ninth consecutive month beginning April. Inflation in November was 14.23%, while in December 2020 it was 1.95 %.

"The high rate of inflation in December 2021 is primarily due to rise in prices of mineral oils, basic metals, crude petroleum & natural gas, chemicals and chemical products, food products, textile and paper and paper products etc as compared to the corresponding month of the previous year," the Commerce and Industry Ministry said in a statement.

Inflation in manufactured items was lower at 10.62% in December, against 11.92% in the previous month.

In fuel and power basket the rate of price rise was 32.30% in December, against 39.81% in November.

Inflation in food articles, however, witnessed an uptick on a month-on-month basis at 9.56 % in December, against 4.88% in November. Vegetable price rise rate spiked to 31.56%, against 3.91% in the previous month.

Data released earlier this week showed, retail inflation based on Consumer Price Index (Combined) rose to 5.59% in December, from 4.91% a month ago as food prices inched up.


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Printable version | May 24, 2022 1:53:19 am | https://www.thehindu.com/business/Economy/wpi-inflation-eases-to-1356-in-december-food-items-veggies-see-price-rise/article38271238.ece