Wholesale price inflation rose to 2.37 percent in December 2024, driven by a rise in manufactured products, according to government data released on Tuesday. This represents an increase from 1.89 percent recorded in November 2024 and 0.86 percent in December 2023.
“The positive inflation rate in December 2024 is primarily due to the increase in food prices, food product manufacturing and other processing industries, textile and non-food items manufacturing, etc.,” the Ministry of Trade and Industry said in the statement.
According to the data, food inflation fell slightly to 8.47 percent in December 2024 from 8.63 percent in the previous month. The inflation rate for vegetables was 28.65 percent, slightly higher than the November rate of 28.57 percent. Potato inflation remained high at 93.20 percent, while onions saw a sharp rise to 16.81 percent in December.
Some food items such as cereals, pulses and wheat witnessed a decline in inflation during the month of December. The fuel and energy category recorded a contraction of 3.79 percent, improving from a contraction of 5.83 percent in November. The inflation rate in manufactured goods rose to 2.14 percent from 2 percent in the previous month.
On the retail front, data released on Monday indicated that CPI-based inflation fell to a four-month low of 5.22 percent in December, due to lower food prices.
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