New Delhi. Wholesale price-based inflation touched a decade-high of 14.23 per cent in November. This is mainly due to the steep rise in the prices of mineral oils, base metals, crude petroleum and natural gas. Wholesale price-based inflation has remained in double digits for the eighth consecutive month since April. Inflation was 12.54 per cent in October this year, while it was 2.29 per cent in November 2020.
In a statement on Tuesday, the Ministry of Commerce and Industry said, “Inflation in November 2021 is mainly due to increase in prices of mineral oils, base metals, crude petroleum and natural gas, chemical and chemical products, food products etc. over the previous year. More than this month.” Inflation in the fuel and power segment rose to 39.81 per cent in November as against 37.18 per cent in October.
The food index rose more than double to 6.70 per cent from 3.06 per cent in the previous month. Crude petroleum inflation stood at 91.74 per cent in the month under review, as against 80.57 per cent in October. However, there was a decline in manufactured goods at 11.92 per cent in November as compared to 12.04 per cent in October.
Data released on Monday showed retail inflation based on the Consumer Price Index (Combined) rose to a three-month high of 4.91 per cent in November from 4.48 per cent a month ago. This is because of the increase in food prices. However, inflation based on the Consumer Price Index (CPI) remained comfortable for the Reserve Bank of India. The government has asked the central bank to keep inflation at 4 per cent (+/- 2 per cent).