India’s November wholesale inflation slows to 1.89% y/y
2024.12.16 01:59
NEW DELHI (Reuters) -India’s wholesale inflation eased in November to 1.89% year-on-year on the back of slower increase in food prices, government data showed on Monday.
The wholesale inflation rate, a proxy for producer prices, last month came in lower than the 2.2% forecast by economists in a Reuters poll, and down from a four-month high of 2.36% in October.
Food prices rose 8.92% in November, compared with an 11.6% increase in October, with vegetable prices climbing 28.57% year-on-year, down sharply from a 63% jump in the previous month. Meanwhile, cereal prices rose 7.81% last year versus a 7.9% rise a month ago.
Prices of manufactured products, which account for about 64% of the wholesale price index, increased 2% from a 1.5% jump in the previous month.
