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Base effect, higher fuel prices push Jan wholesale inflation to 3.10% (
TIWN
Base effect, higher fuel prices push Jan wholesale inflation to 3.10% (
PHOTO : TIWN

New Delhi, Feb 14 (TIWN) An unfavourable base effect, along with higher prices of manufactured products and key transportation fuels, accelerated India's annual rate of inflation based on wholesale prices to 3.10 per cent in January from a rise of 2.59 per cent in December, official data showed on Friday.

Data furnished by the Commerce Ministry showed the wholesale price index (WPI) during January 2020 to be much higher than the rise of 2.76 per cent reported for the corresponding month of the previous year.

"The annual rate of inflation, based on monthly WPI, stood at 3.1 per cent (provisional) for the month of January, 2020 (over January, 2019) as compared to 2.59 per cent (provisional) for the previous month and 2.76 per cent during the corresponding month of the previous year," the ministry said in a statement.

"Build up inflation rate in the financial year so far is 2.50 per cent compared to a buildup rate of 2.49 per cent in the corresponding period of the previous year," it said.

On a sequential basis, expenses on the manufactured products category, which constitute over 64 per cent of the WPI''s total weightage, increased to 0.34 per cent from (-)0.25 per cent.

Moreover, prices in the fuel and power sub-category increased at a faster rate of 3.42 per cent from (-)1.46 per cent.

The prices of primary and food articles, though at elevated levels, declined marginally.

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