December wholesale inflation drops to 1.22%

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WPI is used to estimate the average change in the selling price of goods or services in bulk by wholesalers.

Wholesale-price inflation slowed to 1.22% in December due to lower food prices, government data showed Thursday.

Retail inflation based on the Consumer Price Index (CPI) was 6.93% in November.

Inflation based on the Wholesale Price Index (WPI) was 1.55% in November 2020 and 2.76% in December 2019.
The inflation rate based on the WPI Food index fell from 4.27% in November 2020 to 0.92% in December 2020, according to data released by the Department for the Promotion of Industry and Domestic Trade.

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In addition, retail inflation had also fallen sharply to 4.59% in December, due to falling food prices.

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WPI is used to measure the average change in the selling price of goods or services in bulk by the wholesaler and the Consumer Price Index (CPI) measures the change in the selling price of goods or services at retail or it measures the price of goods or services sold directly to consumers.

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