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economy | IST

WPI inflation in January rises to 2% from 1.22% a month ago

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The Wholesale price-based inflation (WPI) in January rose to 2.03 percent from 1.22 percent a month ago.

The Wholesale price-based inflation (WPI) in January rose to 2.03 percent from 1.22 percent a month ago in December, according to the government data released on Monday.
CNBC-TV18 analysts' poll had estimated the Wholesale price index-based (WPI) inflation of 1 percent.
This is the highest level of WPI inflation since February 2020 when it was 2.26 percent.
Meanwhile, January WPI Core Inflation expanded to 5.2 percent against 4.1 percent last month.
While food articles saw softening in inflation in January, manufactured items witnessed a hardening of prices, as per data released by the Commerce and Industry ministry.
Food inflation in January stood at (-) 2.8 percent, against (-) 1.11 percent in the previous month.
Inflation in vegetables and potatoes was (-) 20.82 percent and 22.04 percent during January, while in the fuel and power basket it was (-) 4.78 percent.
In non-food articles, inflation was higher at 4.16 percent during the month under review.
The Reserve Bank of India (RBI) in its monetary policy decision on February 5, kept interest rates unchanged for the fourth consecutive meeting and said that the near-term inflation outlook has turned favourable.
Meanwhile, retail inflation, based on the consumer price index, was at 4.06 percent in January, data released last week showed.
(With inputs from PTI)