Wholesale inflation jumps to 3.10% in January: Data

New Delhi: Higher prices of manufactured products along with those of key transportation fuels accelerated India’s annual rate of inflation based on wholesale prices to 3.10 percent in January from a rise of 2.59 percent in December, official data showed on Friday.

Similarly, the data furnished by the Ministry of Commerce and Industry showed WPI inflation during January 2020 to be much higher than the rise of 2.76 percent reported for the corresponding month of the previous year.

“The annual rate of inflation, based on monthly WPI, stood at 3.1 percent (provisional) for the month of January 2020 (over January 2019) as compared to 2.59 percent (provisional) for the previous month and 2.76 percent during the corresponding month of the previous year,” the Ministry said in a statement on January’s Wholesale Price Index (WPI).

“Build up inflation rate in the financial year so far is 2.50 percent compared to a buildup rate of 2.49 percent in the corresponding period of the previous year.”

On a sequential basis, the expenses on manufactured products category, which constitute over 64 percent of the WPI’s total weightage, increased to 0.34 percent from (-)0.25 percent.

Furthermore, the prices of fuel and power sub-category increased at a faster rate of 3.42 percent from (-)1.46 percent.

The prices of primary and food articles though at elevated levels declined marginally. (IANS)

Also Read: High food, fuel prices push Jan retail inflation to 7.59%

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