21.6 C
State of Tripura
Friday, April 18, 2025

Karnataka BJP Slams Siddaramaiah Over Caste Census ‘Drama’

Karnataka BJP criticises the Congress-led government over...

Florida State University Shooting: FBI, Police Respond to Campus Attack

A mass shooting at Florida State University...

Darjeeling Himalayan Railway Celebrates 125 Years of Steam Locomotive 782B

The Darjeeling Himalayan Railway celebrates 125 years...

India’s wholesale inflation drops to 5.85% in November

Tripura Net
Tripura Net
www.tripuranet.com is a daily news, news article, feature, public opinion, articles, photographs, videos etc –all in digital format- based website meant to disseminate unbiased information as far possible as accurate.

Must Read

New Delhi/UNI: Indias wholesale inflation eased further to 5.85% in Nov 2022 as against 8.39% recorded in the previous month, according to official data released on Wednesday.

Decline in rate of inflation in November, 2022 is primarily contributed by fall in prices of food articles, basic metals, textiles, chemicals chemical products and paper paper products as compared to the corresponding month of the previous year, said the press release from Ministry of Commerce and Industry.

After remaining in double-digit for almost 19 months, the wholesale price index (WPI)-based inflation had come in single-digit in October driven by all three broad segments namely primary articles, fuel power and manufactured products.

The WPI captures the average movement of wholesale prices of goods and is primarily used as a GDP deflator. It reckons only basic prices and does not include taxes, rebate/trade discounts, transport and other charges.

Indias retail inflation measured by consumer price index (CPI) has also softened falling to an 11-month low of 5.88% in Nov 2022 primarily on the back of decline in food and vegetable prices.

High inflation has been one of the major concerns of the government and the Reserve Bank of India (RBI).

The central bank has been raising policy repo rate since May this year to contain price rise

After remaining elevated for months, both CPI and WPI inflation have now fallen below 6 per cent.

The fall in commodity and food prices are the major reasons for the WPI cooling off. This data is also in line with the CPI inflation released earlier this week.

The fall in WPI inflation needs to be consistent and durable for the policymakers to take note of it and change their view and soften their stance on it, said Raheel Shah, Director at BDR Pharmaceuticals.

WPI cooling off will percolate well in terms of ease in the prices of industrial goods, he added.

- Advertisement -
spot_img
spot_img
spot_img
spot_img

Latest News

Karnataka BJP Slams Siddaramaiah Over Caste Census ‘Drama’

Karnataka BJP criticises the Congress-led government over the inconclusive caste census Cabinet meeting. CM Siddaramaiah faces backlash for using...

More Articles Like This

- Advertisement -