India’s wholesale inflation rate declined to 4.95% in December from 5.85% in November, government data released on Monday showed.
This is the third consecutive month when the indicator of price rise in wholesale markets has remained under double digits since March 2021.
The annual rate of inflation based on all India Wholesale Price Index (WPI) falls to 4.95% (Provisional) for the month of December 2022 (over December 2021) against 5.85% recorded in November 2022
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“Decline in the rate of inflation in December is primarily contributed by fall in prices of food articles, mineral oils, crude petroleum and natural gas, food products, textiles and chemicals and chemical products,” the Ministry of Commerce and Industry said in a press release.
According to the data, the wholesale inflation rate in food items declined to 0.65% in December from 2.17% in November. The price rise in vegetables declined substantially to -35.9% in December from -20.08 in November.
The fuel and power inflation rate, however, increased from 17.35% in November to 18.09% in December, while for manufactured products it dipped to 3.37% from 3.59%.
Last week, India’s retail inflation came down marginally to 5.72% in December from 5.88% in November. This is the lowest level that the price rise indicator has been in a year.
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