WPI inflation inches up to 0.8% in December

NEW DELHI : Wholesale price inflation inched up in December, led by narrowing deflation in some articles, and experts expect it to cross the 1% mark in the months ahead. Data released by the commerce and industry ministry on Wednesday showed inflation, as measured by the wholesale price index, rose an annual 0.8% in Dec from a contraction of 0.3% in November.The ministry said the positive rate of inflation in December is primarily due to increase in prices of other manufacturing, minerals, manufacture of machinery and equipment, manufacture of food products and textiles etc. “WPI inflation rose to 0.8%, coming in higher than expected again. Narrowing deflation in ‘food articles’ and a rise in inflation in ‘manufacturing products’ drove the increase,” Barclays said in a note.