New Delhi: The wholesale price index-based inflation in the country rose to a 9-month high of 0.73 percent in December 2023. It was at 0.26 percent in November 2023. The rise in inflation is due to the rise in prices food articles, machinery & equipment, other manufacturing, other transport equipment and computer, electronics & optical products.
Meanwhile, India’s retail inflation, based on the Consumer Price Index (CPI) , in December 2023 increased to a four-month high. Retail inflation, based on the Consumer Price Index (CPI) was at 5.69 per cent in last month. Data released by the National Statistical Office (NSO) revealed this.
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The inflation based on Consumer Price Index (CPI) was at 5.55 per cent in November 2023 and 5.72 per cent in December 2022. In August 2023, inflation touched a high of 6.83 per cent.
As per the data, the retail inflation in the food basket was at 9.53 per cent in December 2023, up from 8.7 per cent in the preceding month and 4.9 per cent in the year-ago month.
As per data, the retail inflation has now spent 51 consecutive months above the Reserve Bank of India’s (RBI) medium-term target of 4 percent.
Wholesale Price Index (WPI) is a measure of the average change in the price of goods at a wholesale level or in the wholesale market. Consumer Price Index (CPI) is a price index that calculates price changes of goods and services that a consumer has to pay in the retail market. The monetary police of Reserve Bank of India is made after reviewing the CPI.
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