India’s wholesale inflation rises to 2.03 pct in January

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NEW DELHI, Feb. 15 (Xinhua) — India’s wholesale price index (WPI) rose to 2.03 percent in January, according to the data released by the federal Ministry of Commerce and Industry on Monday.

The inflation rate based on WPI was 1.22 percent in December and 2.29 percent in November, the ministry said in a statement.

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

WPI inflation, an indicator of prices in the wholesale market rose mainly due to an increase in the prices of manufactured goods in India, according to it.

Inflation in the WPI Food Index decreased to -0.26 percent in January from 0.92 percent in December, the official data showed.

Meanwhile, the WPI inflation for crude petroleum and natural gas firmed up but was still in the negative zone.

India’s WPI for fuel and power decreased to -4.78 percent in January from -8.72 percent in December, according to the statement.

The official data issued last week showed that India’s retail inflation eased to 4.06 percent in January from 4.59 percent in December following the fall in food prices.

India’s factory activity growth, determined by Index of Industrial Production (IIP) grew 1.0 percent in December, compared to a contraction of 1.9 percent in November. Enditem

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