November inflation eases to 7.24%

 
Inflation declined to 7.24% in November from 9.46% in the same month a year ago although prices of food items like potato, wheat, cereals, rice, pulses, edible oil and sugar went up during the period. Inflation, as measured by the Wholesale Price Index (WPI), stood at 7.45% in the previous month. Food articles have 14.3% share in the WPI basket. Vegetables prices declined 1.19% in November 2012 vs. 10.68% rise in November 2011. Potato and onion prices, however, shot up by 72.20% and 17% respectively year on year in November this year as compared to a decline of 9.31% and 35.15% in the same period last year. Wheat turned expensive by 23.19% in November from a decline of 4.86% in the same month a year ago. Cereals became dearer by 15.85% from a rise of 2.15% in the same month last year. Pulses and eggs, meat and fish became costlier by 19.10% and 14.19% in November. These food items also saw a surge in prices by 14.96% and 11.40% in November last year. For the fuel and power category, inflation moderated to 10.02% during the month from 15.48% in November 2011. However, diesel inflation increased by 14.60% last month. Meanwhile, retail inflation in November moved up to 9.90%, mainly on account of higher of sugar, vegetables, edible oil and clothing.