Inflation based on the Wholesale Price Index dropped for the third consecutive month in November, easing to 3.15% last month from 3.39% in October. That's slower than the previous month's 3.4 percent, but faster than the 3.1 percent decline predicted by the median of 29 estimates in a Bloomberg survey of economists. Among food prices, potatoes recorded the highest rise (37%), followed by pulses (21.7%). The WPI data showed vegetable prices slid 24.1% in November, while onion prices contracted 51.5%. The decline in wholesale inflation coincides with a fall in retail inflation, which hit a two-year low of 3.63 per cent in November. WPI inflation stood at (-) 2.04 per cent in November 2015 and 3.39 per cent in October this year.
Meanwhile, food articles inflation - which accounts for 14 per cent of WPI - in November 2016 came in at 1.54 per cent, lower than 5.55 per cent in the same month previous year.
Under manufactured products, sugar prices shot up 31.76 per cent in November 2016 against contraction of 11.22 per cent.
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Food articles inflation lowered to 1.54 per cent as against 4.34 per cent last month.
As per the data, inflation for manufactured articles was 3.20 per cent compared with 2.67 per cent in the previous month.
The Reserve Bank of India, in its monetary policy commentary statement, also highlighted its fear of a further rise in import costs of petroleum products that may adversely impact its inflation target.