New Delhi: Data released by the Union government revealed that the wholesale price-based inflation eased in the country in the last month. The WPI-based inflation slipped down for the eight consecutive months to 4.73% in January. The easing prices of manufactured items, fuel and power is the main reason for this.
The wholesale price-index (WPI) based inflation rate was 4.95% in December 2022 and 13.68% in January 2022. Inflation in food articles, however, rose to 2.38% in January, from (-) 1.25% in December, 2022. Inflation in pulses was 2.41%, while in vegetables was (-) 26.48%. Inflation in oil seeds was (-) 4.22% in January, 2023.
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Fuel and power basket inflation eased to 15.15%, from 18.09%in December 2022. Inflation in Manufactured products was 2.99% in January. It was at 3.37%in December, 2022.
Wholesale Price Index (WPI) is a measure of the average change in the price of goods at a wholesale level or in the wholesale market. Consumer Price Index (CPI) is a price index that calculates price changes of goods and services that a consumer has to pay in the retail market. The monetary police of Reserve Bank of India is made after reviewing the CPI.
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