India's wholesale inflation eased to a 22-month low in December, led by a sharp decline in the prices of vegetables and a moderate decrease in manufactured goods inflation. In fact, overall inflation cooled for the seventh straight month in December, which is also reflected in retail inflation.
Wholesale price index-based inflation eased to 4.95% in December compared to 5.85% in the previous month, data released by the ministry of commerce and industry showed on Monday. Wholesale inflation remained in single digits for the third month in a row after 18 months of double-digit rise. This comes after consumer retail inflation eased to a one-year low of 5.72% in December, also driven by a vegetable price decline.
The massive decline in vegetable prices was on account of seasonal factors and a high base in the same period last year. Economists expect inflation to ease further in the coming months, although things could worsen on the food front.
Esta historia es de la edición January 17, 2023 de Mint Mumbai.
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