WPI inflation drops to 2.76 % for Jan month

New Delhi, Feb 14 (KNN) Inflation based on wholesale prices fell to 10-month low of 2.76 per cent in January over the previous month on easing prices of fuel and some food items, according to official government data.

The Wholesale Price Index (WPI)-based inflation stood at 3.8 per cent in December 2018, and 3.02 per cent in January 2018.

The index for manufacture of textiles group declined by 0.3 percent to 118.8 (provisional) from 119.2 (provisional) for the previous month due to lower price of synthetic yarn, manufacture of knitted & crocheted fabrics, manufacture of cordage, rope, twine & netting, manufacture of other textiles, texturized & twisted yarn and weaving & finishing of textiles (1% each).

However, the price of viscose yarn (2%) and woollen yarn (1%) moved up.

While the index for manufacture of wearing apparel group rose by 1.3 percent to 140.2 (provisional) from 138.4 (provisional) for the previous month due to higher price of manufacture of wearing apparel (woven), except fur apparel (2%).

The major decline witnessed in the index of crude petroleum & natural gas group, which declined by 9.2 percent to due to lower price of crude petroleum (14%). However, the price of natural gas (3%) moved up.

Inflation in kitchen essentials like potato, onion, fruits, and milk softened in January over the previous month, the data revealed.

However, the rate of price rise in the food basket, as a whole, rose to 2.34 per cent in the month under review compared to a deflation (-0.07 per cent) in the previous month.