Perspective on WPI data By Mr. Raghvendra Nath, Ladderup Wealth Management Private
Below Perspective On WPI data By Mr. Raghvendra Nath, Managing Director – Ladderup Wealth Management Private Limited
WPI inflation eases to 4.95% in December from 5.85% in November and 8.67% in October. It went below 5% for the first time since Feb 2021. The easing of inflation was primarily due to fall in prices of food articles, mineral oils, textile & chemical products. Inflation in primary articles was down to 2.38% from 5.52% in November, Fuel & power inflation increased to 18.09% from 17.35%, food index prices inflation slowed to 0.65% vs 2.17% in November. All three major groups – primary articles, fuel & power and Manufactured products saw decline in inflation month-on-month from November 2022. The easing of WPI is in line with the latest CPI inflation numbers which decreased to 5.72% in December from 5.88% in November. With signs of easing inflation, it will be a tough task for RBI to decide on the trajectory of interest rates in next Monetary Policy meeting.”
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