Wholesale inflation drops to 3.15 pct in Nov as food prices soften

| Updated: Dec 14, 2016 17:59 IST

New Delhi [India], Dec 14 (ANI): The wholesale inflation eased to 3.15 percent in the month of November, down from 3.39 percent in October, as food articles and vegetables prices softened. It has fallen from October's 3.39 percent hit by demonetisation-induced cash-crunch. Wholesale rates measured by the wholesale price index (WPI) is a marker for price movements in bulk buys for traders and broadly mirrors trends in shop-end prices. According to the data released on Tuesday, India's retail inflation rate slowed sharply to 3.63 percent in November from October's 4.2 percent, mirroring weak demand as households have put off spending. Chief Economist at L&T Financial Services, Rupa Rege Nitsure said that it is in line with its expectations. "Non-energy commodities, like metals and minerals, spiked up globally. That is getting reflected in cost push pressures," added Rupa. (ANI)