NEW DELHI, Feb 15 (NNN-PTI) – The rate of wholesale inflation in India declined to 4.73 percent in Jan, from 4.95 percent in the previous month, mainly due to easing of prices of manufactured items, fuel and power, the federal Ministry of Commerce and Industry said, yesterday.
“Decline in the rate of wholesale inflation in Jan, 2023, is primarily contributed by mineral oils, chemicals and chemical products, textiles, crude petroleum and natural gas, textiles, and food products,” the ministry said in a statement.
The deceleration came, in contrast to the retail inflation data released on Monday, which showed consumer price index (CPI), or retail inflation, rising to 6.52 percent in Jan, from 5.72 percent in Dec, 2022.
The report said that, in its monetary policy review last week, the country’s central bank, the Reserve Bank of India (RBI), had hiked policy rates by 25 basis points to 6.50 percent, saying core inflation still remained “sticky.”– NNN-PTI
