The Wholesale Price Index-based inflation has remained in double digits for eight consecutive months beginning April this year
New Delhi: With a sharp spike in the prices of food materials, mineral oils, basic metals and crude petroleum, the country's wholesale price inflation surged to a 12-year high of 14.23 per cent. Besides, the prices of vegetables, eggs and meat hardened too in the same month, the government data showed on Tuesday.
The Wholesale Price Index-based inflation has remained in double digits for eight consecutive months beginning April this year, mainly due to skyrocketing prices for food items. The WPI Inflation in October this year was at 12.54 per cent, while in November 2020 it was at 2.29 per cent only.
"The food index more than doubled to 6.70 per cent as compared to 3.06 per cent in the previous month, while manufactured product prices rose 11.92 per cent, against 12.04 per cent in the prior month. Besides, the rise in prices of fuel and power basket was higher at 39.81 per cent in November,” the Commerce and Industry Ministry said in a statement.