New Delhi: There is often a discussion about inflation in the country, the middle and lower-class people are most affected by it, but now a piece of big news has come out on this matter. In fact, due to the fall in the prices of food items and crude petroleum, there has been a big decline in the wholesale inflation rate in the month of December.
Inflation based on wholesale prices declined to 4.95 percent in December 2022 from 5.85 percent in November. According to government data, wholesale price index (WPI)-based inflation was 5.85 percent in November 2022 and 14.27 percent in December 2021. This decline is mainly due to the fall in the prices of food items and crude oil. WPI-based inflation was 5.85 percent in November 2022 and 14.27 percent in December 2021. In this way, the wholesale inflation rate has reached the lowest level of the last 22 months.
The Ministry of Commerce and Industry has said in a statement that in December 2022, the inflation of food items was negative 1.25 percent and the inflation of fuel and electricity was 18.09 percent. Inflation in manufactured products stood at 3.37 percent during the month under review. According to the statement, the decline in the rate of inflation in December 2022 is mainly due to the decline in the prices of articles of food articles, mineral oils, crude oil, natural gas, food products, textiles and chemicals, and chemical products.
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