Nov WPI inflation hits 21-month low of 5.85%; FM says govt will work to further bring down inflation
The Hindu
As per WPI data, in the 'fuel and power' basket, inflation was 17.35%, while in manufactured products, it was 3.59% in November.
The wholesale price-based inflation fell to a 21-month low of 5.85% in November as prices of food, fuel and manufactured items softened.
The WPI (wholesale price index) based inflation has been on a declining trend since May and came down to single digit in October at 8.39%.
Experts said a high base of last year and some easing in food prices also worked in favour of the November 2022 wholesale price index coming in at its lowest level since February 2021 when it was 4.83%.
"Decline in the rate of inflation in November 2022 is primarily contributed by fall in prices of food articles, basic metals, textiles, chemicals & chemical products and paper & paper products as compared to the corresponding month of the previous year," the commerce and industry ministry said on Wednesday.
Finance minister Nirmala Sitharaman told Parliament that the government will work for the common man to further bring down inflation.
"Inflation management or control... Prime Minister Modi and his group of ministers and officers are (making) periodic interventions and taking measures as a result of which we find the results coming in," Ms. Sitharaman said while replying to supplementary demands for grants for 2022-23 fiscal in the Lok Sabha.
Inflation in food articles in November was 1.07% against 8.33% in the previous month.
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