The Office of the Economic Advisor, under the Ministry of Commerce and Industry, reported the annual rate of inflation based on Wholesale Price Index (WPI) for the month of December (base year: 2011-12) at 3.80%. Inflation based on wholesale prices reached an 8-month low on the back of softening prices of fuel and some food items.
According the the press release by the Ministry, “The annual rate of inflation, based on monthly WPI, stood at 3.80 per cent (provisional) for the month of December, 2018 (over December, 2017) as compared to 4.64 per cent (provisional) for the previous month and 3.58 per cent during the corresponding month of the previous year.”
The Ministry in its ‘Index Numbers of Wholesale Price in India’ review for the month December 2018 also stated, “Build up inflation rate in the financial year so far was 3.27 per cent compared to a build-up rate of 2.21 per cent in the corresponding period of the previous year.”
According to the data released, The index for Primary Articles declined by 1.8 per cent to 134.7 from 137.2 for the previous month. The index for Fuel and Power declined by 5.9 per cent to 103.5 from 110.0 for the previous month. The index for Manufactured Products declined by 0.4 per cent to 118.3 from 118.8 for the previous month.