Wholesale price inflation rose to 2.37 percent in December 2024 on the back of a rise in manufactured goods, according to government data released on Tuesday. This is higher than 1.89 percent recorded in November 2024 and 0.86 percent in December 2023.
“The positive rate of inflation in December, 2024 is mainly due to increase in prices of food items, manufacture of food products, other manufacturing, textiles and non-food items, etc.,” the Ministry of Commerce and Industry said in the release.
According to the data, food inflation came down to 8.47 percent in December 2024, which was 8.63 percent in the previous month. The inflation rate of vegetables stood at 28.65 percent, which is marginally higher than November’s 28.57 percent. In December, the inflation rate of potato stood at 93.20 percent, while the price of onion stood at 16.81 percent.
Some food items like cereals, pulses and wheat experienced a reduction in inflation during December. The fuel and power category recorded a decline of 3.79 percent, improving from a decline of 5.83 percent in November. The inflation rate of manufactured goods rose to 2.14 percent from 2 percent last month.
On the retail front, data released on Monday indicated that consumer price index (CPI) inflation fell to a four-month low of 5.22 percent in December, led by a fall in food prices. .
