WPI Inflation at 12 Year High: Common people do not seem to be getting relief from the extortionate inflation. The WPI based inflation rate for the month of November stood at 14.23 percent, as against 12.54 percent in the month of October. Whereas a year ago in November 2020, the wholesale price based inflation rate was 2.29 percent. This figure of wholesale inflation rate is at the highest level of 12 years. At the same time, for the last eight months, the wholesale inflation rate has been continuously above the double figures. The Ministry of Commerce and Industry has released these figures.
Why did wholesale inflation rise in November
According to the data released by the government, the WPI has increased from 12.54 per cent to 14.23 per cent in November as compared to October. At the same time, the wholesale inflation rate of food items has increased from 3.06 percent to 6.70 percent during this period. The inflation rate of manufacturing items has increased to 11.92 percent, while the inflation rate of fuel has reached 39.81 percent.
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