Decline in Wholesale Price Index (WPI) inflation, from 2.3% in October 2024 to 1.8% in November 2024, is fostering positive business sentiments; this trend is likely to lower operational costs for businesses, encouraging domestic demand and economic growth, said Mr. Hemant Jain, President, PHDCCI, in a press statement issued here today.

The decline in prices of primary articles from 8.09% in October 2024 to 5.4% in November 2024 and fuel and power from (-)5.7% in October 2024 to (-)5.8% in November 2024 have led to a decline in WPI, he said.

Food inflation has been softened from 13.5% in October 2024 to 8.6% in November 2024, supported by decline in prices of cereals, vegetables, pulses, fruits and milk, said Mr. Hemant Jain.

We expect WPI inflation to remain benign as subdued inflationary environment will reduce the cost of doing business, boost consumer spending, and strengthen the foundation for sustainable economic growth, he added.