The rate of inflation based on Wholesale Price Index (WPI) eased to 4.64 per cent in November from 5.28 per cent the previous month. November food inflation also saw a drop to -1.96% as compared to -0.64% month on month (MoM). According to the government data released Friday, food articles witnessed softening of prices with deflation at 3.31 per cent in November, against 1.49 per cent in October. .
On Wednesday, data released by the Central Statistics Office (CSO) had shown that industrial production and retail inflation — improved their performance in October and November, respectively. Industrial activity grew at an 11-month-high rate of 8.1 per cent in October, while the Consumer Price Index (CPI) -based inflation rate fell to a 17-month low of 2.33 per cent in November. The index of industrial production rose from 4.5 per cent in September, with the major sectors registering strong growth. Manufacturing, which accounts for roughly three-fourths of the index, grew 7.9 per cent in October, from 4.6 per cent in September. Electricity generation and mining output increased by 10.8 per cent and 7 per cent from 8.2 per cent and almost 0 per cent, respectively. Capital goods, which denotes investment activity, grew by 16.8 per cent.