Inflation up at 7.52 percent in November

India's headline inflation based on wholesale prices rose to 7.52 percent in November due to high fuel and food prices, government data showed Monday.

The country's main inflation measure based on the wholesale price index (WPI) was at seven percent in the previous month and 7.24 percent in the corresponding month of last year, according to data released by the ministry of commerce and industry here.

Food prices jumped by 19.93 percent year-on-year during the month under review. They increased by 18.19 percent in October.

Prices of vegetables jumped by 95.25 percent in November year-on-year. Onion prices soared by 190.34 percent. Potatoes were costlier by 26.71 percent. Fruits became dearer by 13.73 percent and prices of eggs, meat and fish rose by 15.19 percent year-on-year during the month under review.

Cereal prices were up 11.32 percent year-on-year. Rice was costlier by 14.99 percent. Wheat was expensive by 7.21 percent.

Fuel and power inflation rose to 11.08 percent in November as compared to 10.33 percent in October and 9.97 percent in the corresponding month of last year.

The prices of liquefied petroleum gas (LPG) grew by 10.90 percent, petrol became dearer by 4.42 percent and diesel costlier by 15.65 percent.

Manufactured products' inflation rose to 2.64 percent in the month under review from 2.5 percent in October. In the corresponding period last year, it stood at 5.41 percent.

The build-up inflation rate in the financial year so far was 6.70 percent as compared to 4.84 percent in the corresponding period of the previous year.

On Thursday, the country's retail inflation measured in the consumer price index (CPI) for November rose to 11.24 percent as compared to 10.17 percent in the previous month.

India's retail inflation rose on the back of high food prices. The prices of vegetables were up by 61.60 percent, fruit prices were up 15 percent, cereals and products went up by 12.07 percent and egg, fish and meat rose by 11.96 percent.

Prices of food and beverages were up by 14.72 percent, the data showed.

The price rise was sharper in rural areas. The CPI-based inflation for rural areas increased 11.74 percent in the month under review. The prices of vegetables in the rural areas were up by 57.75 percent, fruit prices were up 18.38 percent, cereals and products up by 12.01 percent and eggs, fish and meat went up by 10.83 percent.

For the urban areas, consumer price inflation grew by 10.53 percent in the month under review. Vegetables became costlier by 71 percent, followed by eggs, fish and meat which were up 14.17 percent and cereals and products up by 12.43 percent.

The country's industrial output has contracted by 1.8 percent during October - from a year-on-year growth of 8.4 percent in the corresponding month of last year - due to poor performance of the mining and manufacturing sectors.

--Indo-Asian News Sevice

rv/vt