NEW DELHI: India's inflation based on the wholesale price index eased to 0.27 per cent in January compared to 0.73 per cent in December, data released by the Commerce and Industry Ministry on Wednesday showed.
The prices of manufactured goods as well as fuel and power declined during the month year-on-year which resulted in a slowing of the inflation rate.
However, food prices showed an increase in January which led to the wholesale price index remaining in the positive zone.
The index for the manufacturing group declined by (-0.21 per cent) to 139.8 in January, 2024 from 140.1 for the month of December, 2023.
Out of the 22 NIC two-digit groups for manufactured products, nine groups witnessed an increase in prices,12 groups witnessed a decrease in prices and one group remained constant. Some of the important groups that showed month-over-month increase in prices are machinery & equipment; textiles; beverages; motor vehicles, trailers & semi-trailers; rubber & plastics products, etc.
Some of the groups that witnessed a decrease in prices are food products; basic metals; other manufacturing; chemicals and chemical products; other non-metallic mineral products, etc., in January, 2024 as compared to December, 2023.