PTI
New Delhi, February 14
The wholesale price-based inflation declined to 2-year low of 4.73% in January on easing prices of manufactured items, fuel and power, even though food articles turned expensive.
Inflation in food articles up at 2.38%
- Although inflation in manufactured items softened, in the case of food articles it rose to 2.38% in January, from (-) 1.25% in December, 2022
- Inflation in pulses was 2.41%, while in vegetables it was (-) 26.48%. Inflation in oil seeds was (-) 4.22% in January, 2023
- Fuel and power basket inflation eased to 15.15%, from 18.09% in December 2022. In manufactured products, it was 2.99%, against 3.37% in December, 2022
This is the eight straight month of decline in the rate of wholesale price-index (WPI) based inflation. It was 4.95% in December 2022 and 13.68% in January last year.
“Decline in the rate of inflation in January, 2023 is primarily contributed by mineral oils, chemicals & chemical products, textiles, crude petroleum & natural gas, textiles, and food products,” the Commerce and Industry Ministry said on Tuesday.
The decline in the rate of price rise was mainly due to a favourable base effect, economists said, adding that going forward, softening commodity prices would help ease WPI inflation further.
Although inflation in manufactured items softened, in the case of food articles it rose to 2.38% in January, from (-) 1.25% in December, 2022.
Inflation in pulses was 2.41%, while in vegetables it was (-) 26.48%. Inflation in oil seeds was (-) 4.22% in January, 2023.
Fuel and power basket inflation eased to 15.15%, from 18.09% in December 2022. In manufactured products it was 2.99%, against 3.37% in December, 2022.
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