WPI Rises to 0.58% in November; Foresaw Slowdown and Acted Ahead of Time, RBI Governor Says

WPI rises to 0.58% in November. Foresaw slowdown and acted ahead of time, RBI Governor says.

 

INDIAN ECONOMY

WPI rises to 0.58% in November.

When Up is Down: Wholesale prices based inflation (WPI) rose to 0.58% in November as against 0.16% in October. This surge was contributed by an increase in prices of food items.

 

The rate of price rise for food articles rose to 11% in the same period while for non-food articles it was 1.93%. The same numbers for October were 9.80% and 2.35% respectively.  The Hindu

Foresaw slowdown and acted ahead of time, RBI Governor says.

Looking Ahead: Speaking at the India Economic Conclave, RBI Governor Shaktikanta Das called for an "informed and objective discussion" on the country's economy and said that the Central Bank would do "whatever is necessary" to address growth slowdown, spikes in inflation as well as to ensure good health of banks and non-bank lenders.

 

Das also said the RBI foresaw the ongoing economic slowdown and acted ahead of time by slashing interest rates from February (repo rates have been cut five consecutive times this year). Firstpost

FIN.

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