Inflation based on wholesale price index (WPI) eased in the month of January 2024 to 0.27% from a nine-month high of 0.73% in December 2023, amid lower prices of crude petroleum & natural gas, non-food articles and food articles. The Component wise, primary articles index, declined 1.04% to 181.0 (provisional) in January 2024 from 182.9 (provisional) for the month of December 2023, on account of fall in prices of crude petroleum & natural gas, non-food articles and food articles. However, prices of minerals increased in January 2024 as compared to December 2023.
Fuel & Power index, having weight of 13.15%, increased by 0.39% to 154.8 (provisional) in January 2024 from 154.2 (provisional) for the month of December 2023. Prices of electricity increased in January 2024 as compared to December 2023, while prices of coal and mineral oils declined in January 2024 as compared to December 2023.
Besides, Manufactured Products constituting the major portion of the index with weight of 64.23%, declined by 0.21% to 139.8 (provisional) in January 2024 from 140.1 (provisional) for the month of December 2023, on the back of decrease in prices of food products; basic metals; other manufacturing; chemicals and chemical products; other non-metallic mineral products etc. in January 2024 as compared to December 2023. Meanwhile, for the month of November 2023 the final Wholesale Price Index and inflation rate for 'All Commodities' (Base: 2011- 12=100) stood at 153.1 and 0.39% respectively.
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