The annual rate of inflation based on all India Wholesale Price Index (WPI) fell to 4.95 per cent for December 2022, against 5.85 percent recorded in November 2022, the Ministry of Commerce and Industry said on Monday, 16 January.
This is the lowest it has stooped in the last 22 months.
“The decline in the rate of inflation in December 2022 is primarily contributed by fall in prices of food articles, mineral oils, crude petroleum and natural gas, food products, textiles and chemicals and chemical products,” the central ministry said in a press release.
Inflation in food articles was below by 1.25 per cent, while fuel and power saw an inflation rate of 18.09 per cent during December 2022.
For primary articles group, the annual rate of inflation WPI has declined from 5.52 per cent in November 2022 to 2.38 per cent in December 2022.
Inflation in manufactured products was 3.37 per cent during the month, a decline from 3.59 last month, the statement added.