Image Source : PTI (FILE) Vegetable market
The Wholesale Price Index (WPI)-based inflation experienced a moderation in January, easing to 0.27 per cent, primarily driven by a decline in food prices.
Compared to December 2023, when WPI inflation stood at 0.73 per cent, this represents a notable decrease. The WPI inflation had been in negative territory from April to October and turned positive in November, registering at 0.39 per cent.
According to the commerce and industry ministry’s statement on Wednesday, the annual inflation rate based on the All India Wholesale Price Index for January 2024, compared to January 2023, is recorded at 0.27 per cent.
Food inflation saw a decline to 6.85 per cent in January, down from 9.38 per cent in December 2023. Specifically, inflation in vegetables decreased to 19.71 per cent from 26.3 per cent in the preceding month. Meanwhile, WPI inflation for pulses stood at 16.06 per cent, and for fruits, it was 1.01 per cent.
In January 2023, wholesale inflation was at a higher rate of 4.8 per cent, a significant decline in inflationary pressures compared to the previous year.
(With PTI inputs)
