WPI inflation rate in November spikes to 14.23%

WPI inflation rate in November spikes to 14.23%

The high rate of inflation in November 2021 is primarily due to rise in prices of mineral oils, basic metals, crude petroleum, natural gas, chemical and food products, the government said.





December 14, 2021 / 03:06 PM IST





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.

Also Read | IIP grows by 3.2% in October 2021

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