New Delhi: The annual rate of inflation, based on monthly WPI, stood at 3.1% (provisional) for the month of January 2020 (over January 2019) as compared to 2.59% (provisional) for the previous month and 2.76% during the corresponding month of the previous year. This is the highest inflation figure in the last eight months. The last time the wholesale inflation touched 3.1 per cent was in April 2019. Also Read - January Retail Inflation Rises to 7.59% From 7.35% in December
“The index for ‘Food Articles’ group declined by 1 per cent to 160.8 (provisional) from 162.5 (provisional) for the previous month due to lower price of fruits & vegetables and tea (7% each), arhar (2%), beef and buffalo meat, pork and gram (1% each). However, the price of betel leaves (9%), fish-marine (7%), bajra (4%), masur and peas/chawali (3% each), urad, maize, barley, egg, wheat, poultry chicken and condiments & spices (2% each), fish-inland, moong, mutton and milk (1% each) moved up,” the press release issued by the ministry of commerce and ministry said. Also Read - 'Economic Emergency': Rahul Gandhi Slams Centre For Failing to Control Inflation, GDP
The index for ‘ Non-Food Articles’ group declined by 1.4 percent to 132.1 (provisional) from 134.0 (provisional) for the previous month due to lower price of floriculture (19%), castor seed and skins (raw) (1% each). However, the price of soyabean (5%), linseed (3%), safflower (kardi seed), raw rubber, rape & mustard seed, raw jute, gaur seed, raw silk, mesta and gingelly seed (sesamum) (2% each), coir fibre, groundnut seed, niger seed and hides (raw) (1% each) moved up. Also Read - India's Wholesale Inflation Skyrockets to 2.59% in December
The index for ‘Minerals’ group declined by 7.2 percent to 142.6 (provisional) from 153.6 (provisional) for the previous month due to lower price of manganese ore (20%), copper concentrate (12%), iron ore (5%). However, the price of lead concentrate and limestone (1% each) moved up.
The index for ‘Crude Petroleum & Natural Gas’ group rose by 2.7 percent to 88.3 (provisional) from 86.0 (provisional) for the previous month due to higher price of crude petroleum (4%).