ENA Economy 2023-02-14 16:24:43 <p><span style="font-size:14px"><strong>New Delhi, Feb 14 (KNN)</strong> The annual rate of inflation based on all India Wholesale Price Index (WPI) has fallen to a 24-month low of 4.73 per cent in January 2023, revealed the government data on Tuesday.</span></p> <p><span style="font-size:14px">Decline in the rate of inflation last month is primarily contributed by mineral oils, chemicals &amp; chemical products, textiles, crude petroleum &amp; natural gas, textiles, and food products, said the Ministry of Commerce &amp; Industry in an official statement.</span></p> <p><span style="font-size:14px"><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></span></p> <p><span style="font-size:14px">The index for primary articles increased by 0.93 per cent to 174.0 in January, 2023 from 172.4 for the month of December, 2022. Prices of Minerals (2.62%), Non-food Articles (1.58%) and Food Articles (0.92%) increased in January, 2023 as compared to December, 2022.</span></p> <p><span style="font-size:14px">Prices of Crude Petroleum &amp; Natural Gas declined by 0.85 per cent in January, 2023 as compared to December, 2022. </span></p> <p><span style="font-size:14px">For manufactured products the index increased by 0.14 per cent to 141.3 in January, 2023 from 141.1 for the month of December, 2022.</span></p> <p><span style="font-size:14px">Out of the 22 NIC two-digit groups for manufactured products, 12 groups have witnessed increase in prices while 10 groups have witnessed a decrease in prices.</span></p> <p><span style="font-size:14px">The increase in price is mainly contributed by basic metals; tobacco products; electrical equipment; computer, electronic &amp; optical products; motor vehicles, trailers &amp; semi-trailers; other transport equipment; printing &amp; reproduction of recorded media etc.</span></p> <p><span style="font-size:14px">Some of the groups that have witnessed decrease in prices are other manufacturing; textiles; chemical &amp; chemical products; fabricated metal products except machinery &amp; equipment; rubber &amp; plastic products, wearing apparel, etc. in January, 2023 as compared to December, 2022. <em><strong>(KNN Bureau)</strong></em></span></p> 32304 https://knnindia.co.in/news/newsdetails/economy/wpi-inflation-lowers-to-473-in-jan-records-24-month-low 2023-02-14 16:24:43 knnindia.co.in