Wholesale Inflation: In December, wholesale price inflation decreased to 4.95%! – India’s wpi inflation eases to 4-95 percent in December 2022 and touches 22 month low

The government has released the total price inflation data for the month of December today. Accordingly, the Wholesale Price Index Inflation has decreased to 4.95% in the month of December. The main reason for this is low prices of food products and crude oil.

Headline inflation was 5.85% in the previous month of November. Headline inflation stood at 14.27% in December 2021.

Food inflation decreased by 1.25% last December. Inflation in fuel and electricity stood at 18.09%. Inflation in manufactured goods stood at 3.37%.

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According to the central government, lower prices of food items, mineral oil, crude oil, natural gas, textiles, chemicals and chemical products were the main reasons behind the significant decrease in total price inflation in December.

The limit set by RBI is that inflation should be within 2% to 6%. In the past year, inflation has risen erratically beyond the limit due to various factors, including the Russia-Ukraine war. Retail inflation was the least significant at 5.7% in December last year.

Headline inflation is now below 5%. The RBI has been continuously increasing the repo rate since last May to control inflation. Now that inflation has come down, it is expected that the pace of RBI raising the repo rate will slow down.