Wholesale inflation spikes to 14.23% in November as crude, metal prices harden

New Delhi, December 14

The wholesale price-based inflation surged to more than a decade high of 14.23% in November, mainly due to hardening of prices of mineral oils, basic metals, crude petroleum and natural gas. WPI inflation has remained in double digits for eight consecutive months beginning April.

Inflation in October this year was at 12.54%, while in November 2020 it was at 2.29%. The 12-year high inflation print in November is due to low base effect and spike in the fuel index.

“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 Commerce and Industry Ministry said on Tuesday. — PTI

Crude petroleum inflation at 91.74%

• Inflation in fuel and power basket was higher at 39.81% in November. The food index more than doubled to 6.70% as compared to 3.06% in October
• Crude petroleum inflation was at 91.74% in November as against 80.57% in October