<p>New Delhi: Wholesale inflation stayed in the negative zone for the second consecutive month in November, due to a decline in prices of food, metal and energy products, official data showed on Monday.</p>.<p>The annual Wholesale Price Index (WPI) inflation stood at (-) 0.32% in November. In October, it was at a 27-month low of (-) 1.21%.</p>.<p>Negative rate of inflation in November is primarily due to decrease in prices of food articles, mineral oils, crude petroleum & natural gas, manufacture of basic metals and electricity etc, the Ministry of Commerce & Industry said.</p>.<p><strong>Deflationary zone</strong></p>.Food prices drive WPI inflation to 4-month high of 0.52% in August.<p>Price of food items in November was 2.60% lower when compared with the same month last year. In October, this was 5.04% lower on a year-on-year basis. Food items have witnessed deflation in the wholesale market for the past eight consecutive months. It has been in a deflationary zone since April.</p>.<p>Manufactured products inflation declined to 1.33% in November, from 1.54% recorded in the previous month. Primary articles and fuel & power remained in the <br />deflationary zone.</p>.<p>“The WPI deflation narrowed faster than expected to 0.3% in November 2025, from 1.2% in October 2025, reflecting the base effect, weakening INR and rising prices of some commodities,” said Aditi Nayar, Chief Economist, ICRA.</p>.<p>“With the further depreciation in the INR, hardening commodity prices, and unseasonal rise in vegetable prices, and despite softening crude oil, we expect the WPI to move into a YoY inflation of around 0.5% in December 2025, and subsequently average above 1.5% in Q4 FY2026,” she further said.</p>
<p>New Delhi: Wholesale inflation stayed in the negative zone for the second consecutive month in November, due to a decline in prices of food, metal and energy products, official data showed on Monday.</p>.<p>The annual Wholesale Price Index (WPI) inflation stood at (-) 0.32% in November. In October, it was at a 27-month low of (-) 1.21%.</p>.<p>Negative rate of inflation in November is primarily due to decrease in prices of food articles, mineral oils, crude petroleum & natural gas, manufacture of basic metals and electricity etc, the Ministry of Commerce & Industry said.</p>.<p><strong>Deflationary zone</strong></p>.Food prices drive WPI inflation to 4-month high of 0.52% in August.<p>Price of food items in November was 2.60% lower when compared with the same month last year. In October, this was 5.04% lower on a year-on-year basis. Food items have witnessed deflation in the wholesale market for the past eight consecutive months. It has been in a deflationary zone since April.</p>.<p>Manufactured products inflation declined to 1.33% in November, from 1.54% recorded in the previous month. Primary articles and fuel & power remained in the <br />deflationary zone.</p>.<p>“The WPI deflation narrowed faster than expected to 0.3% in November 2025, from 1.2% in October 2025, reflecting the base effect, weakening INR and rising prices of some commodities,” said Aditi Nayar, Chief Economist, ICRA.</p>.<p>“With the further depreciation in the INR, hardening commodity prices, and unseasonal rise in vegetable prices, and despite softening crude oil, we expect the WPI to move into a YoY inflation of around 0.5% in December 2025, and subsequently average above 1.5% in Q4 FY2026,” she further said.</p>