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WPI: The wholesale inflation rate figures for January have arrived in the country. In January 2023, the wholesale inflation rate has 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 of retail inflation had come only yesterday and in January 2023 the retail inflation has crossed six and a half per cent. In January 2023, the retail inflation rate has reached 6.52 percent with 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.
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.
Why the wholesale inflation rate has come down
Crude oil prices and natural gas, along with mineral oil, chemical products and textiles, are behind the decline in wholesale inflation.
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