The wholesale price-based inflation declined to 4.95 per cent in December 2022, primarily because of fall in costs of meals articles and crude petroleum. The Wholesale Worth Index (WPI)-based inflation was 5.85 per cent in November 2022 and 14.27 per cent in December 2021.
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Inflation in meals articles was (-)1.25 per cent, whereas in gasoline and energy it was 18.09 per cent throughout December 2022. Inflation in manufactured merchandise was 3.37 per cent through the month, the commerce and trade ministry mentioned in a press release.
“The decline within the price of inflation in December 2022 is primarily contributed by fall in costs of meals articles, mineral oils, crude petroleum & pure fuel, meals merchandise, textiles and chemical compounds & chemical merchandise,” it mentioned.