November CPI At 6.93%, WPI At 1.55% As Vegetable Prices Cool: Nirmal Bang
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Nirmal Bang Report
Consumer Price Index came in at 6.93% in November 2020, below our estimate of 7.3% and Bloomberg consensus estimate of 7.2% on account of lower food prices (led by vegetables).
CPI inflation eased from 7.6% in the previous month. Vegetable prices rose by only 0.35% month-on-month while we had factored in an increase of 3.70% month-on-month.
While prices of potatoes and onions continued to rise on a sequential basis, they were more than offset by the decline in prices of other vegetables.
Wholesale Price Index inflation stood at 1.55% in Nov-20, below our estimate of 2.15% and Bloomberg consensus estimate of 1.7%, helped by easing food prices (led by vegetables).
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