Huge Relief For Consumers With The Wholesale Inflation Falling To A 21-Month Low

 2 days after consumer inflation number hit an 11-month low, WPI fell to 5.85% in November. The inflation index was at 8.39% a month ago and 14.87% a year ago. The sharp decline in wholesale prices comes due to a big fall in food inflation which fell to a 22–month low of 2.17%. The manufactured goods inflation also fell to 3.59% in November. The relief comes even as global inflation rates cool in November. Inflation in the US fell to 7.1% last month… down from a high of 9.1% in June. The UK, which has seen a price rise at 40-year highs, saw inflation fall to 10.7% from a record high in October. The EU has also seen prices cool in November… raising hopes that the era of an unprecedented interest rate rise may be coming to an end.