WPI dips to 3.1%

Wholesale inflation slowed for the third consecutive month in November on the back of sliding prices of vegetables and some food items. Inflation, as measured by the wholesale price index rose annual 3.2% in November, slower than previous month's 3.4%.
The softening in WPI inflation comes close on the heels of retail inflation easing to a two-year low of 3.6% in November. The government revised upwards the inflation for September to 3.8% from the previously reported 3.6%.
The move to scrap some high value currency notes has dented consumer demand and hurt industries and there have been demands for a cut in interest rates to boost demand.