India's Wholesale Price Inflation Falls To Almost 2-Year Low At 4.95%

The WPI inflation slipped below the 5 per cent mark for the first time since February 2021, when it was at 4.83 per cent.

Written by: India.com Business Desk

Updated: January 16, 2023, 2:01 PM IST

https://www.india.com/business/indias-wholesale-price-inflation-falls-to-almost-2-year-low-at-4-95-5855824/

India's Wholesale Price Inflation Falls To Almost 2-Year Low At 4.95%

New Delhi: India’s wholesale price index-based (WPI) inflation for December 2022 fell to an almost two-year low of 4.95 per cent, owing to sliding food and crude as well as petroleum prices.

WPI-based inflation was 5.85 per cent in November 2022.

“The annual rate of inflation based on all India Wholesale Price Index (WPI) falls to 4.95% for December 2022 against 5.85% recorded in November 2022”, a statement issued by the Ministry of Commerce & Industry said.

“Fall in prices of food articles, mineral oils, crude petroleum and natural gas, food products, textiles and chemicals & chemical products contributed to a slide in wholesale price index-based inflation,” the statement added.

The WPI inflation slipped below the 5 per cent mark for the first time since February 2021, when it was at 4.83 per cent.