India’s wholesale inflation declines to 12.96% in January

India’s wholesale inflation has eased to 12.96 % in January from 13.56 % in the previous month. The Wholesale Price Index (WPI) based inflation has declined consistently in recent months. It fell from 14.87 % in November 2021 to 13.56 % in December 2021 and further to 12.96 % in January 2022. However, inflation still remains at an elevated level and is a matter of concern for economic policymakers.

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Key points:

• The high rate of inflation in January 2022 is primarily due to rise in prices of mineral oils, crude petroleum & natural gas, basic metals, chemicals, and chemical products, food articles etc as compared the corresponding month of the previous year”.
• Wholesale food inflation hardened during the month of January. The rate of inflation based on the WPI Food Index increased marginally from 9.24 % in December 2021 to 9.55 % in January 2022.
• Prices of Minerals rose by 11.08 % and non-food articles became costlier by 0.37 % in January 2022 as compared to December 2021.

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