WPI: January's Wholesale Inflation (WPI Inflation) figures have arrived in the country. In January 2023, the wholesale inflation rate decreased and it has come down to 4.73 percent. In December, the figure for wholesale inflation was 4.95 per cent. In this way, the wholesale inflation rate has decreased by 0.2 percent on a month-on-month basis.
Retail inflation data came only yesterday
The figures for retail inflation had come only yesterday and in January 2023 the retail inflation crossed six and a half per cent. In January 2023, the retail inflation rate reached 6.52 percent a big jump. While the retail inflation rate in December 2022 was 5.72 percent. In January 2022, the retail inflation rate was 6.01 percent.
Why the wholesale inflation rate has come down
The reason behind the decline in the wholesale inflation rate is the fall in the prices of crude oil and natural gas along with mineral oil, chemical products and textiles.
Food inflation data
The prices of food items increased in January. Food inflation has seen an increase in January and it has reached 2.95 percent. In December 2022, it came down to 0.65 percent.
The increased inflation rate of pulses and milk products
If we look at the rate of inflation of other food items, then the rate of inflation of pulses and milk products has seen a rise. An increase in the inflation rate of pulses has been seen and it had come down to 15.65 percent. In the last month i.e. December 2022, the inflation rate of pulses was at 14 percent. The inflation rate of milk products has also seen a rise and it increased to 8.96 percent in January 2023. It stood at 6.99 per cent in December.
The wholesale inflation rate is within the prescribed range of RBI.
RBI has kept the target of inflation between 4-6 percent and the figure of wholesale inflation has remained within this target. This can be a relief news for the Reserve Bank.