Inflation hits zero level

Inflation hits zero level

India’s wholesale price inflation (WPI) came down to zero per cent in November backed by a significant ease in food and fuel prices. The rise in prices in November was at its lowest level since July 2009.

As per the data released by the government on Monday, food inflation fell 0.63 per cent with vegetables contributing the most. Vegetable prices slipped 30 per cent year-on-year in November owing to a high base effect.

Manufacturing products inflation fell to 2.04 per cent from 2.43 per cent in October. The fuel and power group, which has 15 per cent weightage on the index, declined by a whopping 5.4 per cent month-on-month due to lower crude prices.

WPI inflation was 7.52 per cent in November 2013. The ease in prices saw raised pitch for interest rate cut by the Reserve Bank of India.

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