TIL Desk/Business/New Delhi/ The wholesale price-based inflation declined to over two-year low of 3.85 per cent in January on easing prices of manufactured items, fuel and power, even though food articles remained expensive. This is the ninth straight month of decline in the rate of wholesale price-index (WPI) based inflation.
The WPI inflation was 4.73 per cent in January and 13.43 per cent in February, last year. “Decline in the rate of inflation in February 2023 is primarily contributed by fall in prices of crude petroleum & natural gas, non-food articles, food products, minerals, computer, electronic & optical products, chemicals & chemical products, electrical equipment and motor vehicles, trailers & semi-trailers,” the commerce and industry ministry said on Tuesday.
The 3.85 per cent WPI inflation is the lowest since January 2021, when the rate of price rise on wholesale basis was 2.51 per cent. The decline in the rate of price rise was mainly due to a favourable base effect, economists said, adding that going forward, softening commodity prices would help ease WPI inflation further.
