India's WPI inflation drops further to 4.95% in December 2022

The WPI inflation was 8.39 per cent in October 2022, and 5.85 per cent in November 2022.

“Decline in the rate of inflation in December 2022 is primarily contributed by fall in prices of food articles, mineral oils, crude petroleum & natural gas, food products, textiles and chemicals & chemical products,” the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT), under the ministry of commerce and industry, said.

The official WPI for all commodities (Base: 2011-12 = 100) for the month of December 2022 was 150.4 compared to previous month’s 152.1.

The index for manufactured products (weight 64.23 per cent) for December 2022 decreased to 141.1 from 141.5 for the month of November 2022. The index for ‘Manufacture of Textiles’ sub-group too decreased to 138.4 from previous month’s 140.3. However, the index for ‘Manufacture of Wearing Apparel’ increased to 149.9 from previous month’s 149.4.

The index for primary articles (weight 22.62 per cent) decreased to 172.4 in December from previous month’s 177.7. Similarly, the index for fuel and power (weight 13.15 per cent) declined to 158.0 from 159.6 in November 2022.

Meanwhile, the all-India inflation rate for consumer price index (CPI) on base 2012=100 stood at 5.72 (provisional) in December 2022 compared to 5.88 (final) in November 2022 and 5.66 in December 2021, according to the National Statistics Office, under the ministry of statistics and programme implementation.

ALCHEMPro News Desk (RKS)