The all-India Wholesale Price Index (WPI) inflation rate for November 2024 stands at 1.89% (provisional), reflecting a decrease from the 2.36% recorded in October 2024. This decrease in inflation is mainly attributed to a moderation in the prices of food articles, food products, textiles, machinery, and equipment.
Detailed Breakdown of WPI & Inflation Trends
The WPI for all commodities in November 2024 was 156.0, showing a slight decrease of 0.06% compared to the previous month. The inflation rate for all commodities over the same period was 1.89%. Below is a breakdown of the WPI components and their inflation trends:
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Primary Articles (22.62% weight):
The index for primary articles saw a decrease of 1.20%, from 200.3 in October to 197.9 in November 2024. This was primarily due to a fall in the prices of food articles (down by 1.83%) and crude petroleum & natural gas (down by 0.41%). Conversely, the prices of minerals and non-food articles rose by 2.10% and 0.56%, respectively.
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Fuel & Power (13.15% weight):
The index for fuel and power rose by 0.41%, from 146.5 in October to 147.1 in November. This increase was driven by a 0.72% rise in mineral oils, although electricity generation prices saw a slight decline of 0.07%. Coal prices remained unchanged from October.
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Manufactured Products (64.23% weight):
The index for manufactured products rose by 0.35%, from 142.5 in October to 143.0 in November. Among the 22 two-digit groups of manufactured products, 10 saw price increases, including food products, furniture, pharmaceuticals, and electrical equipment. On the other hand, 10 groups experienced price declines, such as basic metals, rubber and plastics, and motor vehicles.
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Food Index (24.38% weight):
The WPI food index, which includes food articles from the primary articles group and food products from the manufactured products group, decreased slightly from 201.2 in October to 200.3 in November. Consequently, the food inflation rate moderated to 8.92% in November, down from 11.59% in October.
Month-over-Month WPI Changes
In terms of month-over-month changes, the WPI for all commodities saw a decrease of 0.06% in November 2024 compared to October. This marks a slight reversal from the 0.90% increase seen in October. The primary articles group saw a notable decrease of 1.20%, while fuel and power rose by 0.41% and manufactured products increased by 0.35%.
Response Rate and Revision Policy
The WPI for November 2024 was compiled with a response rate of 89.2%, and the figures are provisional. The final WPI data for September 2024, which was previously reported with a response rate of 90%, have also undergone revisions. Provisional WPI figures are subject to revision based on updated data according to the revision policy.
