Wholesale price inflation falls to a 3-year low of 6.62 per cent in January
14 Feb 2013
In contrast to figures showing negative growth in industrial production and rising consumer price inflation, the Wholesale Price Index (WPI) showed that commodities had become cheaper rather than more expensive in January.
India's wholesale price inflation index continued to fall for the fourth consecutive month, hitting a three-year low of 6.62 per cent in January, despite an across-the-board increase in the prices of food items.
The annual rate of inflation based on the wholesale price index was at 7.18 per cent in the previous month, ie, December 2012 and at 7.24 per cent in November 2012, official data released today showed.
WPI inflation rate stood at 7.23 per cent in January 2012.
The decline in inflation rate was mainly due to a decline in the wholesale price index of manufactured items where inflation fell 4.81 per cent year-on-year in January 2013.
Manufactured items have a weight of 64.97164 in the WPI basket.
