During the last month of 2020, people got relief from inflation.
According to data released by the Department of Industry and Internal Trade Promotion (DPIIT), the prices of vegetables (wholesale prices) on a wholesale basis have fallen by more than 13 percent in December 2020. In such a situation, WPI based Inflation has come down to 1.22 percent during this period.
- January 14, 2021, 9:27 PM IST
Vegetable prices decreased by 13.2 percent
According to data released by DPIIT, WPI Food Inflation was 4.27 per cent in November 2020, which came down to 0.92 per cent in December. Vegetable prices declined by 13.2 per cent in December 2020 on a wholesale basis. Vegetables became 12.24 percent costlier in November 2020. Onion prices fell by 54.69 percent in the last month of 2020. Onion became cheaper by 7.58 percent in November. At the same time, the prices of potatoes decreased by 37.75 percent in December, while in November, potatoes became costlier by 115.12 percent.
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Inflation of coarse grains, paddy, wheat and pulses also declined in December 2020 as compared to November 2020. However, wholesale prices of fruits in December were higher than in November. While inflation in food items declined in the month under review, inflation in manufactured products rose to 4.24 percent. It was 2.97 percent in November. In December 2020, there was a slight increase in the wholesale inflation of fuel and electricity. Retail inflation also came down to 4.59 percent in December. Retail inflation also came down as food prices fell. However, the main inflation is at a 24-month high of 4.2 per cent. This may lead to concerns about wholesale inflation going forward.