Wholesale Price-based Inflation (WPI) for December 2022 eased to 22-month low of 4.95 per cent. According to the Commerce and Industry Ministry data released on Monday, WPI inflation eased mainly due to fall in prices of food articles, especially vegetables, and oilseeds.
Food articles segment slipped to 0.65 per cent in the reported period. Fuel and power rose marginally from 17.35 per cent in November to 18.09 per cent in December 2022, while in manufactured products it softened to 3.37 per cent.
WPI inflation was 5.85 per cent in November 2022 and 14.27 per cent in December 2021.
In October 2022, WPI dropped below the double-digit mark for the first time since March 2021.
WPI is in line with retail inflation data released last week which showed CPI inflation eased to 5.72 per cent in December. The consumer price index (CPI)-based inflation remained within the RBI’s upper tolerance limit of six per cent for the second month in a row.
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