November 22, 2024 20:56 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Chhattisgarh: 10 Maoists killed during encounter with security forces in Sukma | Baba Siddique murder case: Arrested Akashdeep Gill used a labourer's hotspot to evade tracking, say police | Donald Trump picks 'smart and tough' Pam Bondi as new US Attorney General after Matt Gaetz withdraws | Canadian government denies media report that claims PM Modi knew of Khalistani leader Nijjar's killing | PM Modi bestowed Dominica's highest award at India-CARICOM Summit
Wholesale inflation of India eases to 0.27 pc in January
WPI
Photo Courtesy: Unsplash

Wholesale inflation of India eases to 0.27 pc in January

| @indiablooms | 14 Feb 2024, 07:09 pm

India's wholesale price index (WPI) based inflation eased to 0.27% in January 2024 from 0.73% in the previous month, as per data released by the Ministry of Commerce and Industry showed on Wednesday.

"Positive rate of inflation in January, 2024 is primarily due to increase in prices of food articles, machinery & equipment, other manufacturing, minerals, other transport equipment etc," an official release said.

This is the third consecutive month in which wholesale prices have been showing inflation after recording deflation from April 2023 to October 2023.

"Like previous month, the push to wholesale inflation again came mainly from food articles which recorded an inflation of 6.85% in January 2024, though down from 9.38% in December 2023. Within food article the items that are contributing significantly to the wholesale inflation are paddy, pulses and vegetables. Within vegetables the item that is bothering consumer is onion," said Sunil Kumar Sinha (Senior Director & Principal Economist) and Paras Jasrai, Senior Analyst at India Ratings and Research.

India Ratings expects the wholesale inflation to come in at 0.5% in February 2024. In view of retail inflation still being higher than Reserve Bank of India (RBI)'s comfort level, it however expects RBI to maintain a pause on the policy rate in the near term.

As per data released by Ministry of Statistics & Programme Implementation (MoSPI) earlier this week, India's retail inflation measured by consumer price index (CPI) eased to 5.10% in January 2024 on an annual basis primarily on the back of softening food prices.

(With UNI Inputs)

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.