Wholesale Inflation Eases to 4.73 Percent in India
TEHRAN (ANA)- The rate of wholesale inflation in India declined to 4.73 percent in January from 4.95 percent in the previous month, mainly due to easing of prices of manufactured items, fuel and power, the federal Ministry of Commerce and Industry said.
"Decline in the rate of wholesale inflation in January 2023 is primarily contributed by mineral oils, chemicals and chemical products, textiles, crude petroleum and natural gas, textiles, and food products," the ministry said in a statement.
The deceleration came in contrast to the retail inflation data which showed consumer price index (CPI), or retail inflation, rising to 6.52 percent in January, from 5.72 percent in December 2022, reported the Press Trust of India (PTI).
The report said that in its monetary policy review last week, the country's central bank, the Reserve Bank of India (RBI), had hiked policy rates by 25 basis points to 6.50 percent saying core inflation still remained "sticky".
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