WPI inflation at 2-year low on easing food, crude prices

New Delhi: The wholesale price-based inflation declined to 4.95 per cent in December 2022, mainly due to fall in prices of food articles and crude petroleum. Wholesale price index-based inflation falls to 2-year low of 4.95 per cent

The Wholesale Price Index (WPI)-based inflation was 5.85 per cent in November 2022 and 14.27 per cent in December 2021. Inflation in food articles was (-)1.25 per cent, while in fuel and power it was 18.09 per cent during December 2022. Inflation in manufactured products was 3.37 per cent during the month, the commerce and industry ministry said in a statement. "The decline in the rate of inflation in December 2022 is primarily contributed by fall in prices of food articles, mineral oils, crude petroleum & natural gas, food products, textiles and chemicals & chemical products," it 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," a statement issued by the Union Commerce Ministry said.

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