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The government attributed the positive inflation rate in December to an increase in prices of food articles, manufacture of food products, other manufacturing, manufacture of textiles, and non-food articles etc.
The Wholesale Price Index or WPI measures the change in prices of goods wholesale businesses sell to and trade in bulk with other companies. Unlike the CPI which tracks prices of goods and services purchased by consumers, WPI tracks factory gate prices before retail prices.
The Ministry of Commerce and Industry releases WPI. Under the index, commodities are categorised into three groups — primary articles (which are further divided into food and non-food articles), fuel and power and manufactured products.
The prices of non-food articles (2.53%), minerals (0.48%), electricity (8.81%), and coal (0.07%) increased in December 2024 as compared to November 2024. On the other hand, the price of food articles (-3.08%), crude petroleum & natural gas (-2.87%) and mineral oils (-0.06%) declined in December as compared to the previous month.
Out of the 22 National Industrial Classification (NIC) two-digit groups for manufactured products, 11 groups witnessed an increase in prices whereas nine groups witnessed a decrease in prices. Two of the groups showed no change.
Manufacture of textiles, fabricated metal products, except machinery and equipment other non-metallic mineral products, motor vehicles, trailers and semi-trailers, chemicals and chemical products, etc witnessed month-over-month increases in prices. Manufacture of basic metals, food products,, machinery and equipment, furniture other manufacturing, etc reported a decline in prices.
First Published: Jan 14, 2025 12:15 PM IST
