Country’s wholesale inflation increased in November as prices of vegetables such as onions touched the sky.
As per the data released by the Ministry of Commerce and Industry, country’s annual rate of inflation based on wholesale prices jumped to 0.58 per cent in November from 0.16 per cent in previous month.
Overall, wholesale vegetable prices in November rose 45.32 per cent against a rise of 38.91 per cent. Onion price increased by 172.30 per cent in November while it was at 119.84 per cent during October 2019.
The prices of other food items increased at 11.08 per cent from 9.80 per cent.
However, on a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry showed a decelerating trend as inflation had risen to 4.47 per cent during the corresponding period of 2018.
“Buildup inflation rate in the financial year so far was 2 per cent compared to a buildup rate of 4.56 per cent in the corresponding period of the previous year,” the Ministry stated.
However, the cost of fuel and power, which commands 13.15 per cent weightage, deflated by (-)7.32 per cent from a decline of (-)8.27 per cent.
(With input from agencies)