Business News : Wholesale inflation rate decreased to 0.27% in January

Inflation based on Wholesale Price Index declined to 0.27 percent in January due to softening of food prices. WPI inflation in December 2023 was 0.73 percent. Inflation based on Wholesale Price Index was in negative territory during April to October and turned positive at 0.39 per cent in November.

“The annual rate of inflation based on All India Wholesale Price Index (WPI) numbers for January, 2024 (over January, 2023) is 0.27 per cent (provisional),” the Commerce and Industry Ministry said in a statement on Wednesday.

Food inflation declined to 6.85 percent in January compared to 9.38 percent in December 2023, the data showed. Inflation in vegetables stood at 19.71 percent in January, which was 26.3 percent in the previous month. In January, wholesale inflation in pulses stood at 16.06 percent, while in fruits it was 1.01 percent. Wholesale inflation in January 2023 was 4.8 percent.