Elevated global fuel and commodity prices have shrunk profit margins of the manufacturing industry, with most unable to pass on the entire impact of expensive raw materials to consumers amid muted demand. The core consumer price index inflation, which is non-food and non-fuel, continued to remain elevated above 6 per cent in November. Wholesale price index-based core inflation climbed to a fresh high of 12.3 per cent in November and remained over 11 per cent for the fifth straight month. No relief seems to be in sight in the new year.
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