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Business & Economy

India's wholesale inflation rate rises to 3.1% in January 2020

NetIndian News Network

New Delhi, February 14, 2020

India's annual rate of inflation, based on the Wholesale Price Index (WPI), rose to 3.1 per cent in January 2020 as compared to 2.59 per cent in the previous month, due mainly to higher prices of manufactured products and transportation fuels, provisional data released here today said.

The inflation rate was 2.76% in the corresponding month of the previous year.

An official statement, citing the provisional data, said the official WPI for All Commodities (Base: 2011-12=100) for January 2020 rose by 0.1% to 122.9 from 122.8 for the previous month.

It said the build-up inflation rate in the financial year so far is 2.50% compared to a build-up rate of 2.49% in the corresponding period of the previous year.

The statement said the rate of inflation based on WPI Food Index consisting Food Articles from the Primary Articles group and Food Products from the Manufactured Products group decreased from 11.05% in December 2019 to 10.12% in January 2020.

For the month of November, 2019 the final WPI remained unchanged at 122.3 and the annual rate of inflation based on it at 0.58%, respectively, as reported on December 16, 2019, the statement added.

IANS adds:

On a sequential basis, the expenses on manufactured products category, which constitute over 64 per cent of the WPI's total weightage, increased to 0.34 per cent from (-) 0.25 per cent.

Furthermore, the prices of fuel and power sub-category increased at a faster rate of 3.42 per cent from (-) 1.46 per cent.

The prices of primary and food articles though at elevated levels declined marginally.

The key macro economic inflation data came a day after the Consumer Price Index (CPI) for January showed an accelerating trend.

NNN

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