Wholesale Inflation rises to 2.03 per cent in January from 1.22 per cent in December
By TIOL News Service
NEW DELHI, FEB 15, 2021: THE rate of inflation, based on monthly Wholesale Price Index (WPI), sharpened to 2.03 per cent in January compared to 1.22 per cent in December, showed data released by the Ministry of Commerce and Industry on Monday. The WPI inflation in the corresponding month in 2019 had stood at 3.52 per cent.
The government also revised WPI inflation for December, 2020 to 2.29 per cent from the provisional figure of 2.76 per cent.
In January, food articles and fuel softened, while manufactured products hardened prices, the data showed.
The Food Index, comprising primary food articles and manufactured food products, decreased from 0.92 per cent in December, 2020 to negative 0.26 per cent in January, 2021. The food inflation stood at negative 2.8 per cent against the negative 1.11 per cent in the previous month.
The index of primary articles declined by 1.77 per cent while prices of crude petroleum and natural gas increased by 9.48 per cent and minerals by 2.67 per cent in January, 2021 as compared to December, 2020.
The index of fuel and power group increased by 5.84 per cent, with electricity prices seeing a 11.49 per cent hike with mineral oil witnessing a 5.55 per cent rise.
Manufactured products index increased by 1.54 per cent, with 18 groups witnessing an increase in prices, such as furniture, transport equipment, motor vehicles, machinery, electrical equipment, computer, basic metals, rubber and plastic products, and pharmaceuticals rising.
Meanwhile, retail inflation, based on the Consumer Price Index (CPI), was at 4.06 per cent in January, 2021, according to data released last week.