WPI rising prices eases to 13.56 per cent in December; nutrient objects, veggies meet value go up
The wholesale price-based inflation bucked the 4-month rising trend in December 2021, and eased to 13.56 per cent, 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 per cent, while in December 2020 it was 1.95 per cent.
“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 per cent in December, against 11.92 per cent in the previous month. In fuel and power basket the rate of price rise was 32.30 per cent in December, against 39.81 per cent in November.
Inflation in food articles, however, witnessed an uptick on a month-on-month basis at 9.56 per cent in December, against 4.88 per cent in November. Vegetable price rise rate spiked to 31.56 per cent, against 3.91 per cent in the previous month.
Data released earlier this week showed retail inflation based on Consumer Price Index (Combined) rose to 5.59 per cent in December, from 4.91 per cent a month ago as food prices inched up.