iGrain India - In November 2024, India's inflation rate, based on the Wholesale Price Index (WPI), saw a slight decline to 1.89 percent, down from 2.36 percent in October.
This reduction was primarily driven by a drop in prices for food, food products, textile goods, machinery, and equipment.
The overall WPI stood at 156 in November 2024, showing a marginal 0.06 percent decrease from October. The WPI for primary products, which include food, crude oil, minerals, and non-food items,
dropped by 1.20 percent from 200.3 to 197.9 points. Primary products account for 22.62 percent of the total WPI.
The food index, comprising both primary food products and food products from the manufacturing sector, also fell slightly from 201.2 points in October to 200.3 points in November.
This resulted in a decrease in the food inflation rate from 11.59 percent to 8.92 percent. Despite the overall softening of food prices, some products did see price increases.
This inflation data is preliminary, meaning it may be revised later. The current inflationary pressures have not necessitated significant adjustments to India's monetary policy by the Reserve Bank of India.