Big relief in wholesale inflation after retail, lowest in 3 months

Data released by the Ministry of Commerce and Industry showed that inflation in food articles declined to 8.63 per cent in November from 13.54 per cent in October. This was due to a decline in vegetable prices, which declined by 28.57 percent compared to 63.04 percent in October.

According to government data, India’s wholesale inflation fell to a three-month low of 1.89 per cent in November, down from 2.36 per cent in October, as against 0.39 per cent in November last year. Earlier, retail inflation figures had come. In which common people have got relief and the figures have come down to below 6 percent. Let us also tell you what level wholesale inflation has reached.

Figures released by the ministry

Data released by the Ministry of Commerce and Industry showed that inflation in food articles declined to 8.63 per cent in November from 13.54 per cent in October. This was due to a decline in vegetable prices, which declined by 28.57 percent compared to 63.04 percent in October. Onion prices also fell sharply and witnessed a decline of 2.85 per cent during the month. A decline of 5.83 percent was seen in fuel and electricity in November, whereas in October it was 5.79 percent. Inflation in the manufactured goods category increased to 2 percent in November from 1.50 percent in October. The Ministry of Commerce and Industry said in a statement on Monday that the main reason for the decline in inflation rate in November 2024 is the increase in prices of food items, food products, other manufacturing, textiles, machinery and equipment etc.

Inflation figures released

Retail inflation data was released early last week. These retail inflation figures were seen below the RBI’s tolerance level of 6 percent. Whereas in the month of October, retail inflation reached the highest level of 14 months at 6.21 percent. In the month of November this figure was 5.48 percent. After these figures, a cut in the policy rate is expected in the February policy meeting. Earlier this month, the Reserve Bank of India (RBI), which mainly considers retail inflation while formulating monetary policy, kept the benchmark interest rate or repo rate unchanged at 6.5 per cent for the 11th consecutive time in its monetary policy.