India’s wholesale price index-based (WPI) inflation for December 2022 fell to almost two-year low of 4.95 percent, owing to sliding food and crude as well as petroleum prices.
WPI-based inflation was 5.85 percent in November 2022.
“Fall in prices of food articles, mineral oils, crude petroleum and natural gas, food products, textiles, and chemicals & chemical products contributed to a slide in wholesale price index-based inflation,” a statement issued by the Union Commerce Ministry said.
The WPI inflation slipped below the 5 percent mark for the first time since February 2021, when it was at 4.83 percent.
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