New Delhi: The country’s wholesale price inflation has declined to 1.89 percent in November, the lowest in the last three months, the Union Commerce Ministry said.
It is noteworthy that wholesale price inflation was 2.36 percent in October and 0.39 percent in November last year.
The main reason for the decline in inflation was the decline in food prices, especially vegetables. Food inflation, which was 13.4 percent in October, decreased to 8.63 percent in November. In the vegetables sector, inflation decreased from 63.04 percent to 28.57 percent.
In particular, inflation in onion decreased to 2.85 percent. However, it continued to increase in potatoes to 82.79 percent. Similarly, inflation in manufactured goods increased from 1.50 percent to 2 percent.
Monetary depreciation in the fuel and electricity sector increased to 5.83 percent.
Financial market experts believe that the RBI cut the repo rate in February due to factors such as lower wholesale price inflation and an increase in the index of industrial production, following retail price inflation.
