Wholesale Inflation in December Surges to 2.37% Even as Some Food Prices Ease
The Wire Staff
New Delhi: Wholesale Price Index (WPI)-based inflation in India based on rose 2.37% in December 2024 over the corresponding period last year, new government data has revealed. In December 2023, it was at 0.86%.
“Positive rate of inflation in December, 2024 is primarily due to increase in prices of food articles, manufacture of food products, other manufacturing, manufacture of textiles and non-food articles etc,” the government said.
The wholesale inflation rose from 1.89% in November 2024. Inflation in food items slightly eased to 8.47% in December 2024, as against 8.63% in November, the data showed.
This is because prices of cereals (6.82%), paddy (6.93%), wheat (7.63%) and pulses (5.02%) eased, as per the data released by the Union ministry of commerce and industry.
However, price pressures continue to pinch even as there are some signs of easing.
Inflation in vegetables remained high at 28.65%, with potato at 93.20%, and onion at 16.81%.
Prices of fruits and milk, eggs, and meat and fish also surged by 11.16%, 2.26% and 5.43% respectively.
Oil seeds became more expensive in December with inflation at 2.46%, as against a deflation of 0.98% in November.
The fuel and power category, on the hand, saw a deflation of 3.79% in December, against a deflation of 5.83% in November, whereas manufactured items saw an inflation of 2.14%, against 2% in November.
Notably, retail inflation eased to a four-month low of 5.22% in December 2024 even as overall consumer prices were 4.6% higher in December for urban residents compared to 4.9% in November. Food inflation cooled marginally to 8.4% last month from 9.04% in November.
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