WPI inflation in Nov spikes to -0.32%, driven by decrease in food articles prices

The Wholesale Price Index (WPI)-linked inflation in November rose to -0.32 per cent against -1.21 per cent in October, said the data released by the Ministry of Commerce and Industry on Monday.

The rate is primarily due to a decrease in prices of food articles, mineral oils, crude petroleum and natural gas, the manufacture of basic metals, and electricity.

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Further, the WPI food index showed a deflationary trend. In November, the food inflation rose to -2.60 per cent compared to -5.04 per cent in October. Minerals got a little more expensive in November.

Fuel got costlier, with prices rising by 1.03 per cent, while the electricity prices jumped sharply in November, marking a 6.70 per cent rise. Prices of mineral oils fell slightly, while coal prices remained unchanged.

The manufactured products witnessed a small decline of 0.07 per cent in prices during November, with items like metal products, food products, chemicals, electronics, and mineral-based products becoming cheaper.

However, prices of textiles, machinery, electrical equipment and clothing increased slightly during the month.

The retail inflation in November quickened marginally to 0.7 per cent. It was up from the historic low of 0.25 per cent in October 2025.

November’s inflation rate is the second-lowest ever recorded in the current series of the Consumer Price Index (CPI).

The food and beverages category saw prices contract by 2.8 per cent in November 2025, as compared to a high base of 8.2 per cent in November of last year and a contraction of 3.7 per cent in October 2025.

Earlier this month, the RBI lowered its inflation projection for the fiscal year ending March 31 to 2 per cent from 2.6 per cent earlier and raised the growth forecast to 7.3 per cent from 6.8 per cent.