BIZ DESK
India’s wholesale price index-based inflation remained in negative territory at 0.32 per cent in November on an annual basis, compared to a deflation of 1.21 per cent recorded in October. On a month-on-month basis, the WPI rose by 0.71 per cent in November, reversing a deflation of 0.13 per cent seen in the previous month.
Data released by the Ministry of Commerce and Industry showed that the negative inflation rate was mainly driven by lower prices of food articles, mineral oils, crude petroleum, natural gas, basic metals and electricity. The WPI food index recorded a deflation of 2.6 per cent year-on-year, remaining negative for the third consecutive month. Primary articles and fuel and power segments also stayed in deflation, though the pace moderated. Inflation in manufactured products eased slightly to 1.33 per cent.