The common man does not see relief from inflation. LPG prices have increased by Rs 50 since Sunday night. At the same time, prices of petrol diesel are also touching. In such a situation, there has been a rise in wholesale inflation in the month of January. The government has today released data on wholesale inflation. In January, the wholesale inflation rate was 2.03 percent, while in December 2020, the wholesale inflation rate was 1.22 percent.
Inflation based on wholesale prices rose to 2.03 percent in January 2021, even after food prices softened. The main reason for this is the rise in the price of manufactured goods. This was reported in the latest figures. According to data from the Ministry of Commerce and Industry, food prices declined in January. However, the prices of manufactured goods increased.
Wholesale (WPI) inflation was earlier at 1.22 percent in December 2020 and 3.52 percent in January 2020. According to the data, wholesale inflation in food items was down to minus 2.8 percent in January 2021. It was down from 1.11 percent in December 2020, a month earlier. During this period, wholesale inflation of vegetables was at minus 20.82 percent and inflation of fuel and electricity was at minus 4.78 percent. However, wholesale inflation of potato stood at 22.04 percent during this period. Inflation in the non-food category stood at 4.16 percent during this period.
The Reserve Bank of India (RBI) in its monetary policy announcement on February 5 kept the interest rates unchanged for the fourth consecutive meeting. The Reserve Bank had announced that the inflation scenario has been favorable in the near future.
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