Blog for Stock tips, Equity tips, Commodity tips, Forex tips: Sharetipsinfo.com

Want to beat the stock market volatility? Just keep on reading this exclusive blog by Sharetipsinfo which will cover topics related to stock market, share trading, Indian stock market, commodity trading, equity trading, future and options trading, options trading, nse, bse, mcx, forex and stock tips. Indian stock market traders can get share tips covering cash tips, future tips, commodity tips, nifty tips and option trading tips and forex international traders can get forex signals covering currency signals, shares signals, indices signals and commodity signals.

WPI inflation rate in November spikes to 14.23%

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

The high rate of inflation in November 2021 is primarily due to the rise in prices of mineral oils, basic metals, crude petroleum, natural gas, chemical, and food products, the government said.Inflation in November 2021 was highest in the past 12 years (Representative image)

The rate of wholesale inflation spiked to 14.23 percent in November 2021, as per the data released by Department for Promotion of Industry and Internal Trade (DPIIT) on December 14.

Measured by the Wholesale Price Index (WPI), the wholesale inflation rate in India has strengthened for the second consecutive month. In October, a spike of 12.5 percent was recorded by the government.

On a year-on-year basis, the WPI inflation has massively surged in November. In the same month in 2020, the wholesale inflation rate stood at 2.29 percent.

"The high rate of inflation in November 2021 is primarily due to rise in prices of mineral oils, basic metals, crude petroleum & natural gas, chemicals and chemical products, food products, etc. as compared to the corresponding month of the previous year," the Ministry of Commerce & Industry said in an official release.

While the WPI inflation rate for all commodities spiked by 14.23 percent, it soared by 39.81 percent for fuel and power specifically, the government data showed. In October 2021, the wholesale inflation rate for fuel and power came in at 37.18 percent.

Also Read:- COVID-19 Omicron variant | Tamil Nadu district closes public places for the unvaccinated

For food products, the wholesale inflation spiked by 6.70 percent in November, as compared to 3.06 percent in the preceding month.

The data on WPI inflation was released a day after the Ministry of Statistics and Programme Implementation announced that the retail inflation rate marginally increased to 4.91 percent in November 2021.

While the wholesale inflation has raised concerns in October and November, the retail inflation rate has remained within the Reserve Bank of India-set target of six percent since July this year.


Loading