: WPI inflation lowers to 4.73% in Jan; records 24month low #FinanceIndia #StockMarketNEWS WPI inflation lowers to 4.73% in Jan; records 24-month low New Delhi, Feb 14 (KNN) The annual rate of inflation

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WPI inflation lowers to 4.73% in Jan; records 24month low #FinanceIndia #StockMarketNEWS
WPI inflation lowers to 4.73% in Jan; records 24-month low New Delhi, Feb 14 (KNN) The annual rate of inflation based on all India Wholesale Price Index (WPI) has fallen to a 24-month low of 4.73 per cent in January 2023, revealed the government data on Tuesday.

Decline in the rate of inflation last month is primarily contributed by mineral oils, chemicals & chemical products, textiles, crude petroleum & natural gas, textiles, and food products, said the Ministry of Commerce & Industry in an official statement.

The index for primary articles increased by 0.93 per cent to 174.0 in January, 2023 from 172.4 for the month of December, 2022. Prices of Minerals (2.62%), Non-food Articles (1.58%) and Food Articles (0.92%) increased in January, 2023 as compared to December, 2022.

Prices of Crude Petroleum & Natural Gas declined by 0.85 per cent in January, 2023 as compared to December, 2022.

For manufactured products the index increased by 0.14 per cent to 141.3 in January, 2023 from 141.1 for the month of December, 2022.

Out of the 22 NIC two-digit groups for manufactured products, 12 groups have witnessed increase in prices while 10 groups have witnessed a decrease in prices.

The increase in price is mainly contributed by basic metals; tobacco products; electrical equipment; computer, electronic & optical products; motor vehicles, trailers & semi-trailers; other transport equipment; printing & reproduction of recorded media etc.

Some of the groups that have witnessed decrease in prices are other manufacturing; textiles; chemical & chemical products; fabricated metal products except machinery & equipment; rubber & plastic products, wearing apparel, etc. in January, 2023 as compared to December, 2022. (KNN Bureau)