New Delhi [India] (ANI): India’s wholesale price index (WPI) based inflation declined marginally to 13.56 per cent in December 2021 from 14.23 per cent recorded in the previous month, the government data showed on Friday.
A sharp rise in fuel prices has kept WPI inflation in double digits for the nine months in a row. Fuel and power prices rose by 32.30 per cent in December 2021 year-on-year. However, the price rise in fuel and power eased in December as compared with November when it stood at 39.81 per cent.
The rate of inflation based on WPI Food Index increased from 6.70 per cent in November 2021 to 9.24 per cent in December 2021.
Manufactured products inflation eased from 11.92 per cent in November to 10.62 per cent in December. However, primary articles inflation rose to 13.38 per cent in December from 10.34 per cent in the previous month, according to data released by the Ministry of Commerce and Industry.
The increase in prices is mainly contributed by manufacture of textiles; chemicals and chemical products; fabricated metal products, except machinery and equipment; electrical equipment and motor vehicles, trailers and semi-trailers. Some of the groups that have witnessed decrease in prices are manufacture of basic metals; food products; computer, electronic and optical products; wearing apparel and beverages. But the prices of manufacture of rubber and plastics products remain unchanged in December 2021 as compared to November, 2021.
“The annual rate of inflation is 13.56 per cent (Provisional) for the month of December 2021 (over December 2020) as compared to 1.95 per cent in December 2020,” it said.
The high rate of inflation in December 2021 is primarily due to rise in prices of mineral oils, basic metals, crude petroleum and natural gas, chemicals and chemical products, food products, textile and paper and paper products etc as compared to the corresponding month of the previous year.
The month over month change in WPI for the month of December 2021 stood at (-) 0.35 per cent as compared to November 2021. (Image source: Instagram)