Summary:

India's wholesale price inflation fell to 1.89% in November 2024, marking a three-month low. This was primarily due to a drop in food costs, especially for vegetables, which helped lower food inflation to 8.63% from 13.54% in October. Vegetable prices declined by 28.57%, compared to 63.04% the previous month. In November, industrial inflation rose to 2%, while fuel and electricity costs fell by 5.83%.

The Ministry of Commerce and Industry attributed November's positive inflation rate to higher costs for food, goods, textiles, machinery, and equipment. Meanwhile, retail inflation, measured by the Consumer Price Index, dropped to 5.48% from 6.21% in October. This decline has heightened expectations of a rate cut by the Reserve Bank of India (RBI) in its February review, when the repo rate was kept at 6.5%.

Source: IBEF

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