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WPI inflation eases to 13.56 per cent in December; meals objects, veggies see worth rise

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WPI inflation eases to 13.56 per cent in December

The wholesale price-based inflation bucked the 4-month rising development in December 2021, and eased to 13.56 per cent, primarily on account of softening in gas, energy and manufacturing objects though meals costs hardened.

WPI inflation has remained in double digits for the ninth consecutive month starting April. Inflation in November was 14.23 per cent, whereas in December 2020 it was 1.95 per cent.

“The high rate of inflation in December 2021 is primarily due to rise in prices of mineral oils, basic metals, crude petroleum & natural gas, chemicals and chemical products, food products, textile and paper and paper products etc as compared to the corresponding month of the previous year,” the Commerce and Trade Ministry stated in an announcement.

Inflation in manufactured objects was decrease at 10.62 per cent in December, towards 11.92 per cent within the earlier month. In gas and energy basket the speed of worth rise was 32.30 per cent in December, towards 39.81 per cent in November.

Inflation in meals articles, nevertheless, witnessed an uptick on a month-on-month foundation at 9.56 per cent in December, towards 4.88 per cent in November. Vegetable worth rise charge spiked to 31.56 per cent, towards 3.91 per cent within the earlier month.

Knowledge launched earlier this week confirmed retail inflation primarily based on Shopper Value Index (Mixed) rose to five.59 per cent in December, from 4.91 per cent a month in the past as meals costs inched up.

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