Wholesale price inflation hit a zero level in November, the lowest in about five and half years, on account of decline in prices of food, fuel and manufactured items.
The Wholesale Price Index (WPI) based inflation was at 1.77% in October and 7.52% in November 2013.
As per data released by the government on Monday, the food inflation fell to nearly three year low of 0.63%. Food inflation is on decline since May.
This is probably the first time when WPI inflation has hit exact zero level. The last time WPI was lower than this was (-)0.3% in July 2009.
Onion price contracted 56.28% as compared to a contraction of 59.77% in October. In case of vegetables, the contraction was 28.57%.
However, prices of protein rich items of egg, meat and fish rose during November at 4.36%, while inflation in potato stood at 34.10%.
Inflation in manufactured products, like sugar, edible oils, beverages and cement, fell to 2.04% in November as against 2.43% in the previous month.
Prices in fuel and power segment contracted by 4.91%, as against 0.43% inflation in October.
The sharp drop in WPI inflation, which fell for the sixth month in a row, came at the back of retail inflation declining to a record low of 4.38% in November.
–PTI