India's wholesale price index-based inflation drops to 2-year low of 4.95%

New Delhi: India`s wholesale price index-based (WPI) inflation for December 2022 fell to almost two-year low of 4.95 per cent, owing to sliding food and crude as well as petroleum prices. WPI-based inflation was 5.85 per cent in November 2022.

"Fall in prices of food articles, mineral oils, crude petroleum and natural gas, food products, textiles and chemicals & chemical products contributed to a slide in wholesale price index-based inflation," a statement issued by the Union Commerce Ministry said. The WPI inflation slipped below the 5 per cent mark for the first time since February 2021, when it was at 4.83 per cent.