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Thursday, December 14, 2017

Wholesale price index (WPI) hits 8-month high of 3.93% in November 217


Wholesale price index (WPI)-based inflation rose to an eight-month high in November as vegetables, onion and fuel became more expensive, indicating that retail prices could see a further uptick in the coming months.
Though wholesale prices are no longer monitored by the RBI for fixing interest rates, they provide an indication of possible trends in retail inflation.
In its Monetary Policy statement on December 6, the RBI had marginally raised its inflation forecast for the second half of the fiscal and analysts expect wholesale prices to be on the rise as well. Official data released on Thursday showed that WPI inflation rose by it sharpest pace this fiscal to 3.93 per cent in November. It had been 3.59 per cent in October this year, and 1.82 per cent in November last year.
Prior to this, WPI inflation expanded by its sharpest pace in March, at 5.11 per cent. Meanwhile, the rate of inflation based on the WPI Food Index rose to 4.1 per cent in November from 3.23 per cent in October.

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