What does WPI inflation at 14.23% mean for the Indian markets?

WPI inflation or producer inflation touched a 1-year high at 14.23% for the month of November 2021. There was an all-round spike in the cost of minerals, fuel, oil & gas and power. Now, WPI inflation has bene above 10% for 8 months in a row. The big driver of WPI inflation spike was fuel and power inflation which surged to 40%. Most of the pressure on WPI inflation emanated from the primary articles inflation, including food and fuel.