Economy News: India’s wholesale inflation falls to 12.96% in January 2022
Wholesale Price Index: According to the recently released report, India’s wholesale inflation decreased to 12.96% in January 2022 from 13.56% in December 2021. In recent months, there has been a steady decline in the Wholesale Price Index (WPI) based inflation.
The wholesale inflation has fallen from 14.87% in November 2021 to 13.56% in December 2021 and to 12.96% in January 2022. But still, inflation remains elevated and is a matter of concern for economic policymakers. The solution of which is quite difficult, considering the present situation.
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The high rate of inflation in January 2022 is mainly due to an increase in the prices of mineral oils, crude petroleum and natural gas, base metals, chemicals, and chemical products, food articles, etc. as compared to the corresponding month of the previous year. Wholesale food inflation hardened during the month of January.
Inflation based on the WPI food index has increased marginally from 9.24% in December 2021 to 9.55% in January 2022. The prices of minerals increased by 11.08% in January 2022 as compared to December 2021 and non-food articles became costlier by 0.37%.
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