India: Price pressures moderate in November
December 14, 2016
In November, Indian consumer prices fell 0.15% from the previous month, which contrasted October’s 0.38% rise. The monthly decrease chiefly reflected lower prices for food and beverages. Inflation continued to fall in November, declining from October’s 4.2% to a two-year low of 3.6%. As a result, inflation is now slightly below the center of the Central Bank’s target of 4.0% plus/minus 2.0 percentage points.
The wholesale price index (WPI) in November rose 0.11% from the previous month, which contrasted October’s 0.16% decrease. The rise in the index was driven by higher prices for fuel and power products. Wholesale price inflation fell from 3.4% in October to 3.2% in November. The trend pointed up and annual average wholesale inflation rose from 1.1% in October to 1.6%.