Economy / Wholesale Price Index inflation rises to 2.03% for Jan against 1.22% for Dec

New Delhi: The wholesale price-based inflation (WPI) rose to 2.03% in January, even as food prices cooled.

The WPI inflation was 1.22% in December and 3.52% in January last year.

While food articles saw softening in inflation in January, manufactured items witnessed hardening of prices, as per data released by the Commerce and Industry Ministry.

Food inflation in January stood at (-)2.8%, against (-)1.11% in the previous month.

Inflation in vegetables and potatoes was (-)20.82% and 22.04% during January, while in the fuel and power basket it was (-)4.78%.

In non-food articles, inflation was higher at 4.16% during the month under review.

The Reserve Bank of India in its monetary policy decision on February 5, kept interest rates unchanged for the fourth consecutive meeting and said that the near-term inflation outlook has turned favourable.

Meanwhile, retail inflation, based on the consumer price index, was at 4.06% in January, data released last week showed.