The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 1.89 per cent (Provisional) for the month of November, 2024 (over November, 2023). Positive rate of inflation in November, 2024 is primarily due to increase in prices of food articles, food products, other manufacturing, textiles, machinery & equipment, etc.

Month-over-Month Change in Major Groups of WPI:

Primary Articles (Weight 22.62%): – The index for this major group decreased by 1.20% to 197.9 (provisional) in November, 2024 from 200.3 (provisional) for the month of October, 2024. Prices of food articles (-1.83%) and crude petroleum & natural gas (-0.41%) decreased in November, 2024 as compared to October, 2024. The price of minerals (2.10%) and non-food articles (0.56%) increased in November, 2024 as compared to October, 2024.
 

Fuel & Power (Weight 13.15%): – The index for this major group increased by 0.41% to 147.1 (provisional) in November, 2024 from 146.5 (provisional) for the month of October, 2024. The price of mineral oils (0.72%) increased in November, 2024 and the price of electricity generation (-0.07%) decreased in November, 2024 as compared to October, 2024. The price of coal remained the same as in the previous month.
 

Manufactured Products (Weight 64.23%): – The index for this major group increased by 0.35% to 143.0 (provisional) in November, 2024 from 142.5 (provisional) for the month of October, 2024. Out of the 22 NIC two-digit groups for manufactured products, 10 groups witnessed an increase in prices, 10 groups have witnessed a decrease in prices and 2 groups witnessed no change in prices. Some of the important groups that showed month-over-month increases in prices are the manufacture of food products; furniture; other non-metallic mineral products; pharmaceuticals, medicinal chemical and botanical products; electrical equipment etc. Some of the groups that witnessed a decrease in prices are the manufacture of basic metals; rubber and plastics products; chemicals and chemical products; computer, electronic and optical products; motor vehicles, trailers, and semi-trailers; etc. in November, 2024 as compared to October, 2024.
 

4. WPI Food Index (Weight 24.38%): The Food Index consisting of ‘food articles’ from the primary articles group and ‘food product’ from the manufactured products group decreased from 201.2 in October, 2024 to 200.3 in November, 2024. The rate of inflation based on WPI Food Index decreased from 11.59% in October, 2024 to 8.92% in November, 2024.

5. Final Index for the month of September, 2024 (Base Year: 2011-12=100): For the month of September, 2024 the final Wholesale Price Index and inflation rate for ‘All Commodities’ (Base: 2011-12=100) stood at 154.7 and 1.91% respectively.

6. Response Rate: The WPI for November, 2024 has been compiled at a weighted response rate of 89.2 per cent, while the final figure for September, 2024 is based on the weighted response rate of 90 per cent. The provisional figures of WPI will undergo revision as per the revision policy of WPI.