Wholesale inflation stood at 2.76 per cent in January, the government said on Thursday. That meant the rate of increase in wholesale prices eased from 3.8 per cent in the previous month. A smaller increase in prices of manufactured goods and fuel products led to the slowdown in inflation. At 2.76 per cent, inflation in the month of January also came below economists’ estimates. Economists in a poll by news agency Reuters had expected the WPI inflation at 3.65 per cent.
The wholesale inflation – determined by Wholesale Price Index (WPI) – in January marked the lowest level recorded in 10 months, according to Reuters.
However, wholesale food inflation picked up to 1.84 per cent last month, from 0.07 per cent in the previous month, according to the Commerce and Industry Ministry statement.