North News
New Delhi, January 14
India’s wholesale inflation rate stood at 2.37% in December 2024, driven by higher prices in food articles, textiles, and other manufacturing sectors, according to data released by the Ministry of Commerce and Industry. The positive inflation rate was primarily attributed to price increases across key commodity groups despite month-on-month variations in individual segments. The Primary Articles Index, which holds a weightage of 22.62% in the Wholesale Price Index (WPI), declined by 2.07% to 193.8 in December. The drop was primarily due to a 3.08% reduction in food article prices and a 2.87% fall in crude petroleum and natural gas prices. However, non-food articles and minerals saw price increases of 2.53% and 0.48%, respectively, during the same period. The Fuel and Power Index, accounting for 13.15% of the WPI, rose 1.90% month-on-month to 149.9 in December. The increase was led by an 8.81% surge in electricity prices and a marginal 0.07% rise in coal prices. However, mineral oil prices saw a slight decline of 0.06%. For Manufactured Products, which contribute 64.23% of the WPI, the index remained steady at 143.0 in December. Price increases were observed in textiles, fabricated metal products, and chemicals, while basic metals, food products, and machinery reported declines.
The WPI Food Index, which combines food articles from the primary segment and food products from manufacturing, dropped from 200.3 in November to 195.9 in December. The annual food inflation rate also eased slightly, from 8.92% in November to 8.89% in December. In October 2024, the final WPI was revised to 156.7, reflecting an inflation rate of 2.75%. The response rate for the WPI data in December was 87.5%, while the revised October figures were based on a 95.9% response rate.
The Ministry confirmed that the next release of WPI data, for January 2025, is scheduled for February 14, 2025. Provisional figures for WPI undergo revisions after 10 weeks of the reference month and are then finalized. The index is compiled using data from institutional sources and selected manufacturing units across India.
