WPI inflation eases to 4.73 pc in Jan


PTI, Feb 14, 2023, 12:58 PM IST

Credit: iStock Photo

The wholesale price-based inflation eased for the eight consecutive month to 4.73 per cent in January on easing prices of manufactured items, fuel and power.

The wholesale price-index (WPI) based inflation rate was 4.95 per cent in December 2022 and 13.68 per cent in January 2022.

Inflation in food articles, however, rose to 2.38 per cent in January, from (-) 1.25 per cent 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.

Inflation in pulses was 2.41 per cent, while in vegetables was (-) 26.48 per cent. Inflation in oil seeds was (-) 4.22 per cent in January, 2023.

Fuel and power basket inflation eased to 15.15 per cent, from 18.09 per cent in December 2022. In Manufactured products it was 2.99 per cent, against 3.37 per cent in December, 2022.

The deceleration in WPI comes in contrast to the retail inflation data released on Monday which showed consumer price index (CPI) or retail inflation rose to 6.52 per cent in January, from 5.72 per cent in December, 2022.

In its monetary policy review last week, the RBI had hiked policy rates by 25 basis points to 6.50 per cent saying core inflation still remains sticky.

Consumer price index-based inflation had moved below the upper tolerance level of 6 per cent during November-December 2022, driven by a strong decline in prices of vegetables.

Assuming an average crude oil price (Indian basket) of USD 95 per barrel, RBI bettered inflation projection for current fiscal to 6.5 per cent in 2022-23, from 6.8 per cent predicted earlier. In the January-March quarter, the RBI expects retail inflation to average at 5.7 per cent.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Jayant Patil claims BJP used irrigation ‘scam’ to blackmail Ajit Pawar; Fadnavis, NCP chief hit back

Medical College expels 5 MBBS students from hostel for ragging juniors

Insulting women is in DNA of Cong leaders, alleges Jharkhand BJP

Man arrested from Delhi for calling up Pappu Yadav posing as aide of Lawrence Bishnoi

Tejasvi Surya hits out at Kharge, CMs of Cong-ruled states over poll promises

Farooq Abdullah seeks inquiry into spike in terror attacks in Valley since Omar’s swearing-in

Sabarimala pilgrims to get free insurance coverage of Rs five lakh

Related Articles More

Sensex, Nifty decline on selling in IT shares, FII sellout; end Samvat 2080 with 22% gains

Sensex, Nifty decline in early trade on unabated foreign fund outflows, selling in IT stocks

Gold surges Rs 1,000 to breach Rs 82k-mark as Diwali sparkles demand

Car makers witness record sales on Dhanteras; Oct bookings up by 30%

Dhanteras begins on slow note; Jewellers expect footfalls to increase

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

Jayant Patil claims BJP used irrigation ‘scam’ to blackmail Ajit Pawar; Fadnavis, NCP chief hit back

Medical College expels 5 MBBS students from hostel for ragging juniors

Insulting women is in DNA of Cong leaders, alleges Jharkhand BJP

Man arrested from Delhi for calling up Pappu Yadav posing as aide of Lawrence Bishnoi

Tejasvi Surya hits out at Kharge, CMs of Cong-ruled states over poll promises

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.