WPI Inflation in India Rises to 2.37% for December
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Synopsis
The WPI inflation for December 2024 in India rose to <b>2.37%</b>, influenced by price surges in food articles and manufacturing sectors. However, there was a month-to-month decline of <b>0.38%</b> compared to November. Key indices for primary goods and fuel also showed varied performance.
Key Takeaways
- WPI inflation at 2.37% for December
- Month-over-month change of (-0.38%)
- Primary goods index down 2.07%
- Fuel and power index up 1.90%
- Manufactured products stable
New Delhi, Jan 14 (NationPress) The annual inflation rate based on the all-India Wholesale Price Index (WPI) has increased to 2.37% for December, marking a rise compared to the same month last year, as reported by the Commerce and Industry Ministry on Tuesday.
This uptick in December's inflation is mainly attributed to the rise in prices of food articles, the manufacturing of food products, other manufacturing sectors, textiles, and non-food articles.
On a month-over-month basis, the WPI for December 2024 showed a change of (-) 0.38% compared to November 2024.
The index for primary goods fell by 2.07% in December against November 2024, with prices for food articles dropping by (-3.08%) and crude petroleum and natural gas decreasing by (-2.87%).
The fuel and power index saw an increase of 1.90% in December versus November 2024, driven by price hikes in electricity (8.81%) and coal (0.07%). Conversely, the price of mineral oils fell by (-0.06%).
The index for Manufactured Products, which carries a weight of over 64% in the overall index, remained stable compared to November.
Among the 22 groups of manufactured products, 11 groups experienced price increases, 9 groups saw price decreases, and 2 groups had no price changes.
Notable groups that exhibited month-over-month price increases included the manufacture of textiles, fabricated metal products (excluding machinery and equipment), other non-metallic mineral products, motor vehicles, trailers & semi-trailers, and chemicals and chemical products.
Conversely, groups such as the manufacture of basic metals, food products, machinery and equipment, furniture, and other manufacturing experienced price declines in December relative to the previous month.
The Food Index, which incorporates 'food articles' from the primary articles group and 'food products' from the manufactured products group, decreased from 8.92% in November to 8.89% in December. This food index comprises 24.38% of the overall WPI index.
Additionally, the final index for October is now recorded at 2.75%.
