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CareEdge Research Report
Inflation in wholesale prices accelerated to 14.2% in November against 12.5% in October 2021, registering double digit growth for the eighth consecutive month.
The elevated WPI inflation level is due to the low base (2.3% in November 2020) recorded last year coupled with hardening crude oil, manufacturing input and food prices.
The WPI inflation for September 2021 has been revised upwards from 10.7% to 11.8%. Wholesale inflation print for Nov-21 is higher than the our projection of 11.2%.
Consumer Price Index that measures the retail inflation inched up to 4.9% in Nov-21 from 4.5% recorded in the previous month. The gap between wholesale and retail prices has been widening since February 2021 and is a matter of concern.
The WPI inflation represents input costs to industrial production and will be passed onto the consumers as demand conditions improve.
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