India’s inflation based on wholesale price index (WPI) eased further to 4.73% for the month of January 2023 against 4.95% recorded in December 2022. Decline in the rate of inflation in January is primarily contributed by mineral oils, chemicals & chemical products, textiles, crude petroleum & natural gas, textiles, and food products. The wholesale inflation was 5.85% in November 2022.
The Component wise, primary articles index, having weight of 22.62%, increased 0.93% to 174.0 (provisional) in January 2023 from 172.4 (provisional) for the month of December 2022. Prices of Minerals, Non-food Articles and Food Articles increased in January 2023 as compared to December, 2022. Prices of Crude Petroleum & Natural Gas declined 0.85% in January 2023 as compared to December 2022.
Fuel & Power index, having weight of 13.15%, declined 1.39% to 155.8 (provisional) in January 2023 from 158.0 (provisional) for the month of December 2022. Prices of Mineral Oils declined 2.13% in January 2023 as compared to December 2022.
Besides, Manufactured Products constituting the major portion of the index with weight of 64.23%, increased 0.14% to 141.3 (provisional) in January 2023 from 141.1 (provisional) for the month of December 2022. Meanwhile, for the month of November, 2022 the final Wholesale Price Index and inflation rate for 'All Commodities' (Base: 2011- 12=100) stood at 152.5 and 6.12% respectively.
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