New Delhi: Deflationary trend eased in November with WPI inflation moving up to (-)1.99% as food articles, led by pulses and onion, turned costlier.
This is the 13th month in a row when the wholesale inflation remained in the negative territory. It has been in the negative zone since November last year.
The Wholesale Price Index-based inflation has been rising for three months in a row and was (-)3.81% in October.
In November last year, it was (-)0.17%, as per official data released on Monday.
Food inflation shot up to 5.20% in November, as against 2.44% in October.
Inflation in pulses and onion stood at 58.17% and 52.69%, respectively. The rate of price rise in case of vegetables was 14.08% during November.
The rate of price rise in potato was (-)53.72%, while in egg, meat and fish it was (-)2.24%.
Inflation in fuel and power segment was (-)11.09%, while for manufactured products it was (-)1.42% in November.
Inflation for September has been revised to (-) 4.59%, from the provisional estimate of (-)4.54%.
The Reserve Bank mostly tracks the Consumer Price Index (CPI)-based retail inflation for its monetary policy decisions.
The data of November retail inflation is expected later in the day. In October, CPI inflation was 5%.
Earlier this month, RBI Governor Raghuram Rajan had left the key interest rate unchanged in view of rise in retail inflation to 4-month high and likelihood of capital outflows on a possible US Fed rate hike around mid-December.
In September, RBI had reduced interest rates by a more-than-expected 0.50%. It projected retail inflation to be 5% by March, 2017.