New Delhi, Jan 14 (Blitz India Business) The annual rate of inflation based on the all-India Wholesale Price Index (WPI) edged up to 2.37 per cent for the month of December, compared to the same month of the previous year, according to figures released by the Commerce and Industry Ministry on Tuesday.
The positive rate of inflation in December is primarily due to increase in prices of food articles, manufacture of food products, other manufacturing, manufacture of textiles and non-food articles.
However, the month over month change in WPI for the month of December, 2024 stood at (-) 0.38 per cent as compared to November, 2024.
The index for primary goods decreased by 2.07 per cent in December compared to November 2024, as price of food articles declined (-3.08 per cent) and crude petroleum and natural gas fell (-2.87 per cent) during the month.
The fuel and power index increased by 1.90 per cent in December compared to November 2024, as the price of electricity (8.81 per cent) and coal (0.07 per cent) increased during the month. However, the price of mineral oils (-0.06 per cent) decreased in December as compared to the previous month.
The index for Manufactured Products, which has an over 64 per cent weightage in the index, was the same as that in November.
Out of the 22 groups for manufactured products, 11 groups witnessed an increase in prices, 9 groups witnessed a decrease in prices and two groups witnessed no change in prices.
Some of the important groups that showed month-over-month increase in prices were manufacture of textiles; fabricated metal products, except machinery and equipment; other non-metallic mineral products; motor vehicles, trailers & semi-trailers; chemicals and chemical products.
Some of the groups that witnessed a decrease in prices were manufacture of basic metals; food products; machinery and equipment; furniture; other manufacturing, etc. in December as compared to the previous month, the data showed.
The Food Index consisting of ‘food articles’ from primary articles group and ‘food product’ from manufactured products group decreased from 8.92 per cemt in November to 8.89 per cent in December. The food index has a weightage of 24.38 per cent in the overall WPI index.
The figures also showed that the final Index for the month of October now stands at 2.75 per cent.