WPI Inflation For January Softens To 12.96%

The wholesale price-based inflation (WPI) softened to 12.96% in January. In December and November the inflationary levels remained at 13.56% and 14.87%, respectively. Although softened by a tad, the continuing high inflation has been on the back of rising prices of mineral oils, crude petroleum & natural gas, basic metals, chemicals and chemical products, food articles, etc. compared to the corresponding month of the previous year, the Ministry of Commerce and Industry stated.

Inflation in fuel and power increased by 3.9% in January. Also electricity prices and mineral oil rates also increased in January. Coal prices though remained unchanged.

"The Food Index consisting of 'Food Articles' from the Primary Articles group and 'Food Product' from Manufactured Products group have decreased from 169.0 in December, 2021 to 166.3 in January, 2022. The rate of inflation based on WPI Food Index increased marginally from 9.24 per cent in December, 2021 to 9.55 per cent in January, 2022," stated the ministry.

The index for the Primary Articles group declined by 1.67 per cent to 165.0 in January from 167.8 in December, 2021. "Prices of Minerals (11.08 per cent) and Non-food Articles (0.37 per cent) increased in January, 2022 as compared to December, 2021. Prices of Food Articles (-2.61 per cent) and Crude Petroleum & Natural Gas (-5.11 per cent) declined in January, 2022 as compared to December, 2021," the ministry said.