High manufacturing cost led to surge in WPI inflation in December: Report
manufacturing inflation, according to a report by ICICI Bank.
Budget with ET
India’s growing trade imbalance with China: Can Budget 2025 provide a solution?
Will Chandrababu Naidu-ruled Andhra Pradesh continue to be Modi govt's focus point?
Tax cuts, tariff, growth strategies top Indian industry's Budget wish list
The report highlighted that inflation in manufactured products reached a 23-month high of 2.14 per cent YoY in December. Out of 22 manufacturing sub-components, 18 recorded positive inflation, while only three categories reported negative inflation. Core WPI, which excludes volatile food and fuel prices, also edged up slightly to 0.65 per cent YoY.
The report said, «Wholesale inflation rises led by manufacturing, December marks the third consecutive month of 9 per cent+ manufactured food inflation. Manufactured food inflation is now at a 32-month high of 9.7 per cent YoY».
The Wholesale Price Index (WPI) inflation rose to 2.37 per cent year-on-year (YoY), higher than market estimates of 2.18 per cent. This marks a significant jump from November 2024's WPI inflation of 1.89 per cent.
On the other hand, the report pointed out that the lowest inflation levels were observed in non-metallic mineral products (-3.0 per cent YoY), basic metals (-1.4 per cent YoY), and fabricated metal products (-1.3 per cent YoY).
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Basics of Generative AI: Unveiling
