WPI inflation declines to 4.95 pc, almost 2-year low in December

India's annual wholesale price-based inflation (WPI) eased in December to 4.95% year-on-year as against 5.85% in November, government data showed on Monday.

New Delhi, Jan 16: The wholesale price-based inflation declined to 4.95 per cent in December 2022, mainly due to fall in prices of food articles and crude petroleum.

The Wholesale Price Index (WPI)-based inflation was 5.85 per cent in November 2022 and 14.27 per cent in December 2021.

Inflation in food articles was (-)1.25 per cent, while in fuel and power it was 18.09 per cent during December 2022. Inflation in manufactured products was 3.37 per cent during the month, the commerce and industry ministry said in a statement.

"The decline in the rate of inflation in December 2022 is primarily contributed by fall in prices of food articles, mineral oils, crude petroleum & natural gas, food products, textiles and chemicals & chemical products," it said.

In December too, India's WPI inflation numbers for November 2022 came as a sigh of relief as global headwinds were suggestive of constantly rising prices. Back then, the wholesale inflation eased to 5.85 per cent and also hit a 21-month low, breaking a long cycle of high prices.