India's wholesale price inflation eases to two-year low of 4.73% in January

The price fall is mainly attributed to a fall in food prices, especially vegetables

India's annual Wholesale Price-based Inflation (WPI) eased to 4.73 per cent year-on-year (YoY) in January, the eighth straight month of decline. This is the lowest figure in 24 months. 

In December 2022, the WPI-based inflation was 4.95 per cent and in November, it was 6.12 per cent. 

Inflation in food articles, however, rose to 2.38 per cent in January, from (-) 1.25 per cent in December, 2022.

"Decline in the rate of inflation in January, 2023 is primarily contributed by mineral oils, chemicals and chemical products, textiles, crude petroleum & natural gas, textiles, and food products," the release issued by the commerce ministry