Wholesale inflation has registered a sharp rise in the month of January. Wholesale inflation has increased to 3.1% in January, which was 2.59% in December. This has caused a major setback on the inflation front. Looking at the data of wholesale inflation a year ago, it was 2.76% in January 2019. According to the data, inflation of manufactured products has been recorded in the past month. Wholesale food inflation has been low. Earlier, in the months of October, November and December of 2019, there was an increase in wholesale inflation. According to the data released by the Ministry of Commerce and Industry, the prices of non-food products during this period rose almost three times from 2.32% in December and it has become 7.8%. Apart from this, the prices of vegetables in food items have seen a great rise.
Vegetables prices have seen a rise of 52.72 %. Onion prices have increased the most among vegetables. According to the data, onion prices have gone up by 29.3% during this period. After onion, the price of potato has registered an increase of 37.34 %. It is being told that the retail inflation rate is also at a six-year high. The retail inflation data was released on Wednesday. Retail inflation has increased due to increase in prices of food items such as vegetables, eggs, fish, and fuel.
It rose to 7.59% in January, the highest level in nearly six years. Not only inflation, but also on the industrial production front, the government has suffered a setback. According to data released on Wednesday, the country's industrial production declined by 0.3% in December 2019. This decline in industrial production is mainly due to the slowdown in the manufacturing sector. Looking at the figures a year ago, industrial production in December 2018 saw a growth of 2.5%. Industrial production recorded a jump of 1.82% in November 2019.