India's wholesale price inflation shows signs of easing

India's wholesale price inflation eased to 1.89% year-on-year in November, attributed to a slower rise in food prices, the government reported on Monday. This figure was lower than the 2.2% forecasted by economists in a Reuters poll and marks a decline from a four-month high of 2.36% in October. Food prices rose by 8.92% in November, compared to an increase of 11.6% in October. Particularly, vegetable prices recorded a significant drop, with a rise of 28.57% year-on-year compared to a sharp increase of 63% in the previous month. Grain prices increased by 7.81% over the past year, following a rise of 7.9% in the previous month. Prices for manufactured products, which account for about 64% of the wholesale price index, rose by 2%, compared to an increase of 1.5% in the previous month.