India's WPI Inflation: India's wholesale inflation numbers have been released and in January, the WPI has touched a 24-month low at 4.73 per cent
Wholesale Price Index (WPI) inflation data for January has been released on Tuesday. According to this data, India’s wholesale inflation has fallen again, bringing another relief to a long cycle of rising prices. As per the official updates, the WPI inflation has declined to 4.73 per cent, touching another low vis-a-vis previous figures. This also means that WPI inflation has now touched a 24-month low.
The release of India’s wholesale (WPI) inflation numbers come at a time when the retail inflation data, released on Monday, showed a 3-month high of 6.52 per cent. This also meant that the mentioned number breached the Reserve Bank of India’s (RBI) tolerance level after two months.
Before this January WPI inflation data was released, in December, India’s wholesale inflation data showed an ease to 4.95 per cent despite global headwinds suggesting a rise in prices. Back then, the WPI inflation numbers also hit a 22-month low, bringing a sigh of relief to many.
So far, the decline in inflation numbers has been attributed to a fall in prices of food articles, basic metals, textiles, chemicals and chemical products. As of now, since the RBI increased its repo rate again by 25 bps, all eyes continue to stay at inflation data in order to see India’s management of the same.
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