IANS | 14 Feb, 2024
India's inflation based on the wholesale price index eased to 0.27
per cent in January compared to 0.73 per cent in December, data released
by the Commerce and Industry Ministry on Wednesday showed.
The
prices of manufactured goods as well as fuel and power declined during
the month year-on-year which resulted in a slowing of the inflation
rate.
However, food prices showed an increase in January which led to the wholesale price index remaining in the positive zone.
The
index for the manufacturing group declined by (-0.21 per cent) to 139.8
in January, 2024 from 140.1 for the month of December, 2023.
Out
of the 22 NIC two-digit groups for manufactured products, nine groups
witnessed an increase in prices,12 groups witnessed a decrease in prices
and one group remained constant. Some of the important groups that
showed month-over-month increase in prices are machinery &
equipment; textiles; beverages; motor vehicles, trailers &
semi-trailers; rubber & plastics products, etc.
Some of the
groups that witnessed a decrease in prices are food products; basic
metals; other manufacturing; chemicals and chemical products; other
non-metallic mineral products, etc., in January, 2024 as compared to
December, 2023.
