WPI inflation spikes to 14.23 per cent in November: 6 points to focus

The wholesale price-based inflation surged to more than a decade high of 14.23 per cent in November, mainly due to the hardening of prices of mineral oils, basic metals, crude petroleum and natural gas.

Data released on Monday showed retail inflation based on Consumer Price Index (Combined) rose to three months high of 4.91 per cent in November, from 4.48 per cent a month ago, as food prices inched up.

Here are the top 6 points you need to know:

1) WPI inflation has remained in double digits for eight consecutive months beginning April. 

2) Inflation in October this year was at 12.54 per cent, while in November 2020 it was at 2.29 per cent.

3) This is primarily due to rise in prices of mineral oils, basic metals, crude petroleum & natural gas, chemicals and chemical products, food products etc as compared to the corresponding month of the previous year

4) Inflation in the fuel and power basket was higher at 39.81 per cent in November, as against 37.18 per cent in October.

5) The food index more than doubled to 6.70 per cent as compared to 3.06 per cent in the previous month.

6) Crude petroleum inflation was at 91.74 per cent during the month under review, as against 80.57 per cent in October. However, manufactured items saw moderation at 11.92 per cent, from 12.04 per cent in October.