India’s wholesale price index (WPI)-based inflation eased to 4.73 per cent in January on an annual basis from 4.95 per cent in December, stated provisional data from the Commerce Ministry. The month-on-month change in WPI index for January witnessed an increase of 0.13 per cent as against a contraction of 1.12 per cent in the preceding month.
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The WPI is one of the two indices that measure inflation in India. The other is Consumer Price Inflation (CPI). The WPI captures prices at the level of production or manufacturing, taking into account goods traded between companies, as against the CPI that measures prices at the retail consumer level. Food items, which constitute a major part of the CPI, drive retail inflation, while for the WPI, it’s manufactured goods.
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