The Wholesale Price Index (WPI)-based inflation skilled a moderation in January, easing to 0.27 per cent, primarily pushed by a decline in meals costs.
Compared to December 2023, when WPI inflation stood at 0.73 per cent, this represents a notable lower. The WPI inflation had been in unfavorable territory from April to October and turned optimistic in November, registering at 0.39 per cent.
According to the commerce and trade ministry’s assertion on Wednesday, the annual inflation fee primarily based on the All India Wholesale Price Index for January 2024, in contrast to January 2023, is recorded at 0.27 per cent.
Food inflation noticed a decline to 6.85 per cent in January, down from 9.38 per cent in December 2023. Specifically, inflation in greens decreased to 19.71 per cent from 26.3 per cent in the previous month. Meanwhile, WPI inflation for pulses stood at 16.06 per cent, and for fruits, it was 1.01 per cent.
In January 2023, wholesale inflation was at the next fee of 4.8 per cent, a major decline in inflationary pressures in contrast to the earlier 12 months.
(With PTI inputs)
