India’s wholesale inflation eases to 13.56 pct in December

India’s wholesale price index (WPI) eased to 13.56 percent in December last year, data released by the federal ministry of commerce and industry said Friday.

The high rate of inflation, as compared to 1.95 percent in December 2020, is primarily due to rise in prices of mineral oils, basic metals, crude petroleum and natural gas, chemicals and chemical products, food products, textile and paper and paper products etc., a statement issued by the ministry said.

In November 2021, wholesale price inflation was recorded at 14.23 percent.

WPI inflation, an indicator of prices in the wholesale market, rises or falls mainly due to steep increase or decrease in commodity prices globally.

India’s retail inflation, or Consumer Price Index (CPI), rose to 5.59 percent in December last year, official data said.