India’s WPI inflation falls to 4.73%, lowest in 23 months

India’s annual inflation rate based on wholesale price index (WPI) fell to 4.73 per cent in January – lowest in 23 months thanks to lower food prices, especially vegetables. Prices of mineral oils, chemical products, crude petroleum, and natural gas, among others have also reduced.

In December, WPI inflation was 4.95 per cent.

India’s inflation in November stood at 5.85 per cent while in October it was 8.39 per cent.

Meanwhile, India’s annual retail inflation measured in the consumer price  index — in January rose to 6.52 per cent from a 12-month low of 5.72 per cent in December. This is above the upper tolerance limit of 6 per cent. The retail inflation essentially reflets the retail prices of goods and services driven by households purchases.

Reserve Bank of India Governor Shaktikanta Das recently said that inflation continues to be “sticky”.

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