Wholesale price inflation (WPI) fell to (-) 0.32 per cent in November, driven by a rise in prices of food articles such as pulses and vegetables on a month-on-month basis, government data showed on Monday.

WPI-based inflation was (-) 1.21 per cent in October and 2.16 per cent in November last year.

"Negative rate of inflation in November 2025 is primarily due to a decrease in prices of food articles, mineral oils, crude petroleum & natural gas, manufacture of basic metals and electricity, etc," the industry ministry said in a statement.

According to WPI data, deflation in food articles eased to 4.16 per cent in November, compared with 8.31 per cent in October.

Among vegetables, deflation moderated to 20.23 per cent in November, from 34.97 per cent in October. In pulses, deflation stood at 15.21 per cent, while in potatoes and onions it was 36.14 per cent and 64.70 per cent, respectively.

In manufactured products, inflation softened to 1.33 per cent in November, down from 1.54 per cent in October. Fuel and power recorded negative inflation, or deflation, of 2.27 per cent, compared with 2.55 per cent in October.

Data released last week showed the consumer price index (CPI) inched up to 0.71 per cent in November, from a record low of 0.25 per cent, driven by rising food prices.

Low inflation in the current fiscal year has given the Reserve Bank of India (RBI) scope to cut policy interest rates by 1.25 percentage points.

The Reserve Bank, earlier this month, significantly lowered its inflation projection for the current fiscal to 2 per cent from 2.6 per cent estimated earlier, citing continued rapid disinflation in the economy.

The RBI primarily tracks retail inflation when deciding benchmark interest rates.

Earlier this month, the central bank cut key policy rates by 25 basis points to 5.25 per cent, stating that the Indian economy is in a "rare Goldilocks period" marked by high growth and low inflation.

Last week, the RBI raised its FY26 GDP growth projection to 7.3 per cent from the earlier estimate of 6.8 per cent. India had recorded 8.2 per cent growth in the September quarter and 7.8 per cent in the June quarter.