New Delhi: India’s wholesale price index (WPI) increased by 0.27% in January compared to the same period last year. In December, the index had recorded a 0.73 per cent gain.
Food prices surged by 3.79 per cent year-on-year in January, a decrease from the 5.39 per cent rise seen in December. Similarly, prices for manufactured products dropped by 1.13 per cent, contrasting with a 0.71 per cent decline the prior month.
Fuel and power prices also saw a decrease, falling by 0.51 per cent compared to the same period last year, a moderation from the 2.41 per cent drop recorded in December.
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The prices of primary articles increased by 3.84 per cent in January, down from a 5.78 per cent rise in December. The wholesale price index is an important indicator of inflationary pressures in the economy. A slower pace of increase suggests a potential easing of inflationary pressures, which could have implications for consumer prices and overall economic growth. The slower pace of wholesale price growth was attributed to decreased food prices and a dip in the prices of manufactured goods.
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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