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India’s WPI inflation eases to 4.73% in January

Published on February 15, 2023
Current context: According to provisional data from the Commerce Ministry, India's wholesale price index (WPI)-based inflation decreased to 4.73% in January from 4.95% in December, while the month-on-month change in WPI index for January increased by 0.13% as compared to a contraction of 1.12% in the previous month.
India’s WPI inflation eases to 4.73% in January
  • The WPI measures inflation at the level of production or manufacturing, while the Consumer Price Inflation (CPI) measures prices at the retail consumer level, with food items being a major contributor to retail inflation.
  • The latest data from the commerce and industry ministry shows that inflation in food articles increased to 2.38% in January from (-) 1.25% in December 2022, while fuel and power inflation was at 15.15% in January 2023.
  • Inflation in manufactured products was 2.99% during the month. Inflation in pulses was 2.41%, in vegetables it was (-) 26.48%, and in oil seeds, it was (-) 4.22% in January 2023.
  • Fuel and power basket inflation eased to 15.15% from 18.09% in December 2022, while inflation in manufactured products was 2.99% against 3.37% in December 2022.
  • However, as per the latest CPI data released on Monday, the country's retail inflation rose to a three-month high of 6.52% in January 2023, mainly due to costlier food and fuel.
  • In December 2022, the CPI-based inflation had eased to 5.72%, after having fallen to 5.88% in November 2022. The retail inflation rate had been beyond the RBI's 2-6% band for ten consecutive months but came under it in November with a rate of 5.88%.

Question:

Q.1 How much did India’s WPI inflation ease in January?
a. 4.73%
b. 5.65%
c. 7.7%
d. 4.65%
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