Roadside vegetable vendors sell vegetables in Mumbai, India. (Image source: Bloomberg)
India Wholesale Price Index (WPI) Data: The country's wholesale inflation rose to 3.1 per cent in January, according to the data released by the Ministry of Commerce & Industry.
The wholesale inflation which is measured in terms of wholesale price index (WPI) grew 2.59 per cent during the month of December 2019 and it rose to 2.76 per cent in January last year, the data showed.
The build-up inflation during the ongoing financial year 2019-20 rate was at 2.50 per cent, against 2.49 per cent in the corresponding period a year ago, as per the data.
The WPI Food Index, which consists of ‘Food Articles’ and ‘Food Product’ eased to 10.12 per cent in January against 11.05 per cent a month ago, the commerce ministry data revealed.
Earlier this week, the government had released the retail inflation data or the consumer price index (CPI), which rose to a near six-year high of 7.59 per cent in January, surpassing the Reserve Bank of India's (RBI's) comfort range of 4 per cent with a margin of 2 per cent on either side, primarily on account of rising vegetable and food prices.
Last week, the RBI Monetary Policy Committee (MPC) in its bi-monthly meeting had kept its key interest rates unchanged while maintaining an “accommodative stance”.