November WPI Inflation declined to zero per cent, as against 1.77 per cent in the month of October. Build up inflation rate in the financial year so far was 0.67% compared to a build up rate of 6.70% in the corresponding period of the previous year.
Primary articles inflation declined by one per cent led by Food Articles Inflation which declined by 0.4 per cent, month-on-month.
The index for ‘Non-Food Articles'group also declined by 0.7 percent. A sharp fall was seen in the index for ‘Minerals' group, which declined by 5.9 percent due to lower price of crude petroleum (12%), sillimanite (4%), barytes (3%) and chromite and steatite (2% each). However, the price of zinc concentrate (35%), copper ore (5%) and iron ore and magnesite (2% each) moved up.
The index for the fuel and power group also fell by 5.4 percent.
Today's drop in inflation would lead to renewed calls from industry for interest rate cuts by the Reserve Bank of India (RBI).
The CPI Inflation which was reported earlier this week has also seen a sharp decline. Read What is the difference between WPI and CPI here.