Food prices fall in December despite softening prices

Food prices fall in December despite softening prices

According to the Ministry of Commerce Industry, the wholesale price-based inflation WPI for the country was down to 13.56 per cent in December 2021, which was a decline in fuel items, bucking the four-month rising trend.

Food prices were hard to get despite softening fuel, power and manufacturing items' prices.

In December 2020, the WPI inflation was 1.95 per cent. It had gone up to over a decade high of 14.23 per cent in November 2021 due to the hardening of the prices of basic metals, mineral oils, natural gas, and crude petroleum. The data shows that the WPI for October was revised to 13.83 from 12.54 per cent.

The ministry said in the statement that the ministry said that the month was a better than the month of the previous year.

In December, inflation in manufactured items was less than 10.62 per cent, against 11.92 per cent in the previous month.

In the fuel and power basket, the rate of price increased by 32.30 per cent in December, against 39.81 per cent in November.

Inflation in food articles went up by 9.56 per cent on a month-on-month basis in December, against 4.88 per cent in November.

The vegetable price rose to 31.56 per cent, against 3.91 per cent in the previous month.

Retail inflation based on Consumer Price Index Combined increased to 5.59 per cent in December, from 4.91 per cent a month ago, as food prices went up.