Wholesale Price Inflation Declines to 24-Month Low of 4.73% in January

New Delhi: Wholesale price-based inflation declined to 4.73 percent in January for the eighth consecutive month due to declining prices for manufactured goods, petrol, and electricity.

However, the inflation rate for food items increased to 2.38 percent in January from (-) 1.25 percent in December 2022.

“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.

Vegetable inflation was (-) 26.48% whereas pulse inflation was 2.41 %. Oil seed inflation in January 2023 was (-) 4.22 percent.

From 18.9% in December 2022, the inflation rate for the fuel and power basket decreased to 15.15% today. It was 2.99 percent in manufactured goods compared to 3.37 percent in December 2022.