Team News Riveting
New Delhi, January 13
After a sharp decline in the retail inflation, the producer’s inflation has also come down in December.
Wholesale price-based inflation dropped to 1.22 per cent in December on lowering of food prices, according to data released by the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade on Thursday.
Retail inflation based on the Consumer Price Index (CPI) was 6.93 per cent in November.
Inflation based on Wholesale Price Index (WPI) was 1.55 per cent in November 2020, and 2.76 per cent in December 2019. The rate of inflation based on WPI Food Index decreased from 4.27 per cent in November 2020 to 0.92 per cent in December 2020, according to the data.
Additionally, retail inflation had also dropped sharply to 4.59 per cent in December, on the back of declining food prices.
WPI is used to gauge average change in price of sale of goods or services in bulk by the wholesaler and consumer price index (CPI) measures the change in the price in sale of goods or services in retail or it measures price of goods or services sell directly to consumers
