Inflation based on wholesale prices rose to a nine-month high of 1.55 percent in November as manufactured goods became more expensive while food prices fell. The IPM inflation was 1.48% in October 2020 and 0.58% in November of last year.
This is the highest level of inflation based on the wholesale price index (WPI) since February, when it was 2.26%. While food items saw inflation moderation in November, manufactured items witnessed a tightening of prices.
Food inflation in November stood at 3.94%, compared to 6.37% in the previous month. The rate of increase in the prices of vegetables and potatoes remained high at 12.24 percent and 115.12 percent during the month.
Non-food item inflation was higher than 8.43% in November. The fuel and energy basket eased to (-) 9.87% in November.
The RBI in its monetary policy earlier this month had said that inflation will remain high, except for a temporary relief in the winter months. It had projected retail inflation, based on the consumer price index, at 6.8 percent in the October-December quarter.
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