Quote on WPI Announcement By Mr. D.R.E Reddy, CRCL LLP
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Below is quote on WPI Announcement By Mr. D.R.E Reddy, CEO and Managing Partner, CRCL LLP
‘The WPI inflation data for the month of January eases at 12.96% even though the inflation in food spiked to 10.33% in January 2022 from 9.56% in December 2021. The vegetable price rise rate jumped to 38.45% against 31.56% in the previous month. It is also understood that the growing rate of inflation is primarily due to the rise in prices of mineral oils, crude petroleum, natural gas etc as compared to the corresponding month of the previous year. It can be expected that wholesale inflation is to weaken as we move ahead considering the sentiments of careful optimism. The recent MPC announcement chose to maintain the repo rate at 4 percent for the 10th time in a row was purely to support growth as well as manage the inflationary pressures. Moving forward, as the crude prices soften in the summer season and supply issues get resolved will help ease WPI inflation in the next few months’
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