Wholesale inflation at 6-month low of 2.84% in January
 Source : NewsBharati  Date : 16-Feb-2018

New Delhi, February 16: Wholesale inflation down to a six-month high of 2.84 percent in January this year, as prices of food articles, declined. The previous low level was recorded in July at 1.88 percent.

According to the government data, inflation on food articles slowed to 3 percent in January, from 4.72 percent in December 2017. Calculated on the basis of Wholesale Price Index (WPI), the inflation was 3.58 percent in December 2017 and 4.26 percent in January 2017.

Inflation in vegetables witnessed some softening with annual inflation at 40.77 percent in January as against 56.46 percent in the previous month. Kitchen staple onion witnessed a whopping 193.89 percent price rise in January.

Pulses witnessed deflation at 30.43 percent, and the same for wheat and cereals was 6.94 percent and 1.98 percent respectively. Prices of protein rich items eggs, meat and fish cooled by 0.37 per cent while that of fruits rose 8.49 percent in January.

In the fuel and power segment, wholesale inflation rose to 4.08 percent in January, while it was 2.78 percent for manufactured items.

Data released earlier this week showed that retail inflation was at 5.07 percent. The Reserve Bank takes into account retail inflation while deciding on key policy rates.

In its policy review last week, the RBI had kept key interest rate unchanged and estimated retail inflation to be 5.1 percent in the January-March quarter. For April-September, RBI projected inflation to be in the range of 5.1-5.6 percent.

Meanwhile, inflation for November has been revised upwards to 4.02 percent from the provisional estimate of 3.93 percent released earlier.