NewDelhi: In what could be a big relief to the Narendra Modi Government, the Wholesale price based Inflation (WPI) has dropped by 0.7% to 2.76% in January, as compared to 3.80% (provisional) for the previous month and 3.02% during the corresponding month of the previous year. Build up inflation rate in the financial year so far was 2.49% compared to a build up rate of 2.47% in the corresponding period of the previous year.
The drop in WPI is due to drop in all major indices like Primary articles, Fuel and Power, Manufactured Products.
The index for Primary Articles declined by 0.1 percent to 134.5 (provisional) from 134.7 (provisional) for the previous month. Meanwhile, the index for ‘Food Articles’ group rose by 0.1 percent to 144.1 (provisional) from 144.0 (provisional) for the previous month. Similarly, the index for Fuel & Power declined by 4.1 percent to 99.3 (provisional) from 103.5 (provisional) for the previous month. The index for Manufactured Products group declined by 0.3 percent to 117.9 (provisional) from 118.3 (provisional) for the previous month.