India's wholesale inflation eases to 1.22 pct in December

Source: Xinhua| 2021-01-14 18:27:15|Editor: huaxia
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NEW DELHI, Jan. 14 (Xinhua) -- India's wholesale price index (WPI) inflation slowed to 1.22 percent in December 2020, showed data released by the federal Ministry of Commerce and Industry on Thursday.

"The rate of inflation, based on monthly WPI, stood at 1.22 percent for the month of December, 2020 as compared to 2.76 percent during the corresponding month of the previous year," a statement issued by the ministry said.

The inflation based on WPI was 1.55 percent in November, and 1.31 percent in October, the ministry said.

WPI inflation, an indicator of prices in the wholesale market, slowed down in December as inflation in the WPI Food Index decreased to 0.92 percent in the month from 4.27 percent in November, data showed.

Meanwhile, the wholesale inflation for crude petroleum and natural gas was still in the negative zone.

WPI for fuel and power stood at minus 8.72 percent in December compared to minus 9.87 percent in November.

On Tuesday, government data showed that retail inflation for December eased to 4.59 percent from 6.93 percent in November following the fall in food prices.

The country's factory activity growth determined by Index of Industrial Production (IIP) contracted 1.9 percent in November, compared to a growth of 3.6 percent in October. Enditem