India's January WPI inflation eases marginally to 12.96% YoY from 13.56% on December

India's annual wholesale price-based inflation eased marginally to 12.96% in January from the previous month`s figure of 13.56%, government data showed on Monday.

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January's figure was higher than 12.70% forecast in a Reuters poll of analysts, amid higher food prices, up 9.55 per cent on the year, versus 9.24 per cent in December.

The annual rate of inflation is 12.96 per cent (Provisional) for the month of January, 2022 (over January, 2021), which is a continuous decline from 14.87 per cent in November, 2021 and 13.56 per cent in December, 2021, a government release said. The high rate of inflation in January, 2022 is primarily due to rise in prices of mineral oils, crude petroleum & natural gas, basic metals, chemicals and chemical products, food articles etc as compared the corresponding month of the previous year.

The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT) released index numbers of wholesale price in India (Base Year: 2011-12) for the month of January, 2022 (Provisional) and for the month of November, 2021 (Final) today.

The provisional figures of Wholesale Price Index (WPI) are released on 14th of every month (or next working day) with a time lag of two weeks of the reference month and compiled with data received from institutional sources and selected manufacturing units across the country. After 10 weeks, the index is finalized and final figures are released and then frozen thereafter.