New Delhi: Wholesale price inflation hit a zero level in November, the lowest in about five and half years, on account of decline in prices of food, fuel and manufactured items. The Wholesale Price Index (WPI) based inflation was at 7.52 percent in November 2013.
As per data released by the government today, the food inflation fell to nearly three year low of 0.63 percent. Food inflation is on decline since May. This is probably the first time when WPI inflation has hit exact zero level. The last time WPI was lower than this was (-) 0.3 percent in July 2009.
Onion price contracted 56.28 percent as compared to a contraction of 59.77 percent in October. In case of vegetables, the contraction was 28.57 percent. However, prices of protein rich items of egg, meat and fish rose during November at 4.36 percent, while inflation in potato stood at 34.10 percent.
The sharp drop in WPI inflation, which fell for the sixth month in a row, came at the back of retail inflation declining to a record low of 4.38 percent in November
Bureau Report
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