Wholesale Price Index inflation up at 2.03% for January against 1.22% last month

According to a statement shared by the Union ministry of commerce and industry, prices of food articles declined but the prices of manufactured goods saw a rise of 1.54%.

Wholesale price inflation (WPI) rose to 2.03% in January even though there was a reduction in prices of food. The wholesale price inflation declined in December to 1.22% due to lower as compared to WPI in November due to lower food prices.

Wholesale Price Index inflation up at 2.03% for January against 1.22% last month (HT Photo/Representative)

The WPI inflation in January 2020 was 3.52%.

According to a press release shared by the Press Information Bureau, prices of food articles declined but the prices of manufactured goods saw a rise of 1.54% to 124.9 (provisional) in January, 2021 from 123.0 (provisional) for the month of December, 2020.

The statement released by the Union ministry of Commerce and Industry said, “Out of the 22 NIC two-digit groups for manufactured products, 18 groups that have witnessed increase in prices are manufacture of furniture; other transport equipment; motor vehicles, trailers and semi-trailers; machinery and equipment; electrical equipment; computer, electronic and optical products; fabricated metal products, except machinery and equipment; basic metals; rubber and plastics products; pharmaceuticals, medicinal chemical and botanical products; chemicals and chemical products; paper and paper products; wood and of products of wood and cork; wearing apparel; textiles; tobacco products; beverages; food products in January, 2021 as compared to December, 2020.”

Food inflation for the month of January stood at (-)2.8% and the inflation rate in vegetable and potatoes was (-) 20.82% and (-)22.04% during the month of January.

Inflation in fuel and power was recorded at (-)4.78% in the month of January while non-food articles inflation was at a high of 4.16%. Prices of natural gas as well as crude petroleum also increased by 9.48%.