New Delhi:
In India, the annual inflation rate based on Wholesale Price Index (WPI) increased to 2.37 percent in December 2024, which is higher than last year. According to the data released by the Ministry of Commerce and Industry on Tuesday, the main reason for this increase is the increase in prices of food items, food products, other construction, textile manufacturing and non-food items.
Reduction in prices of food items
WPI decreased by 0.38 percent in December as compared to November 2024. Inflation of food articles decreased to 8.47 percent in December, whereas it was 8.63 percent in November. There was little change in the prices of vegetables, while the prices of potatoes continued to rise sharply and the inflation of onions also increased.
Fall in prices of primary commodities
Primary commodities declined 2.07 percent in December as prices of food items and crude oil fell. At the same time, the prices of fuel and energy increased, especially the prices of electricity and coal.
Increase in prices of manufactured products
The inflation rate of manufactured products was 2.14 percent in December, which was 2 percent in November. In this, especially the prices of textiles, metal products and chemicals increased. At the same time, the prices of food products and some other construction textiles decreased.
Retail inflation at four-month low
According to retail inflation data released on Monday, due to decline in food prices, Consumer Price Index (CPI) based inflation fell to a four-month low of 5.22 percent in December 2024.
Also read- Retail Inflation: Big relief to the common man, retail inflation fell to 4 months low in December.