WPI inflation hits 12-year high of 14.23% in November – Times of India

NEW DELHI: Wholesale price inflation (WPI) soared to a 12-year high of 14.23 per cent in the month of November, data released by the government on Tuesday showed.
The WPI figure is the highest since April 2005. In October, the number had reached a five-month high of 12.54 per cent.
The rising inflationary pressures have been a matter of concern for the past few months. The increase in WPI numbers can be attributed to the rise in manufacturing and food prices.
Interestingly, this is the eighth consecutive month that the WPI figure has remained in the double digits.
The gap between retail and wholesale price-based inflation has widened in recent months as many companies and retailers struggle to absorb rapidly rising costs that threaten their bottom lines.
Data released by the Center on Monday showed that retail inflation rose to 4.91 per cent in November, compared to 4.48 per cent in October. However, it remains within the Reserve Bank of India’s (RBI) target of 2-6 per cent.
The Reserve Bank primarily considers CPI data while arriving at its bi-monthly monetary policy decisions.