Wholesale Inflation Rises to 2.03% in January 2021

Wholesale Inflation Rises to 2.03% in January 2021

Ministry of commerce and industry has clarified that Wholesale inflation, calculated on the basis of Wholesale Price Index (WPI), increased to 2.03 per cent in January, in comparison to 1.22 per cent in December 2020.

“The rate of inflation, based on monthly WPI, stood at 2.03 per cent (provisional) for the month of January, 2021 as compared to 3.52 per cent during the corresponding month of the previous year,” the ministry stated.

As per the data released by the Government, inflation in manufactured products was 5.13%, food inflation was -2.24% in January. Inflation in vegetables and potatoes was -20.82% and -22.04%, respectively, whereas that for eggs, meat and fish stood at (-) 1.76 per cent, inflation for milk was 3.56 per cent. Fuel and power inflation was -4.78%, while petrol reported WPI inflation at (-) 10.29 per cent, same for LPG stood at 2.68 per cent.

In January, retail inflation based on consumer price index, stood at 4.06 per cent, marking the second month in the row that the figure stayed within the RBI-mandated tolerance bracket with an upper limit of 6 per cent.

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