The inflation rate has fell 5% for the first time since Feb 2021

India's wholesale price index-based (WPI) inflation eased to 4.95% in December 2022 from 5.85% in November 2022 on an annual basis, stated provisional data from the Commerce Ministry on Monday. The inflation rate has fell 5% for the first time since Feb 2021. 

Inflation for food articles eased to 0.65 per cent from 2.17 per cent in November. For the primary articles segment, the inflation rate stood at 2.38 per cent as against 5.52 per cent in the month before.
 

As per provisional data from the Commerce Ministry, wholesale inflation in crude petroleum and natural gas eased to 39.71 per cent in December. In November, it stood at 48.23 per cent. Fuel and power inflation surged to 18.09 per cent from 17.35 per cent in November.
 

"The index for this major group declined by 1% to 158 (provisional) in December, 2022 from 159.6 (provisional) for the month of November, 2022. Prices of Electricity (9.51%) increased in December, 2022 as compared to November, 2022. Prices of Mineral Oils (4.64%) declined in December, 2022 as compared to November, 2022," the release said.
 

Further, inflation for manufactured products came in at 3.37 per cent in December 2022.