Indirect Benefit For The Middle Class: WPI Inflation Hits 10-Month Low, Drops To 2.76 Per Cent In January  Representative Image (MANJUNATH KIRAN/AFP/Getty Images)

The wholesale price inflation declined to a 10-month low of 2.76 per cent in January over the previous month on account of softening prices of fuel and food items, reports Business Television.

The annual rate of inflation, based on monthly wholesale price index (WPI), stood at 3.8 per cent in December 2018, and 3.02 per cent in January 2018, said an official release on Thursday (14 February).

According to the BTVI report, the inflation of WPI stood at 2.74 per cent in March 2018. The inflation in commodities required in kitchens like potato, onion and fruits softened in January over the previous month, revealed the data. However, the rate of inflation in the food basket as a whole rose to 2.34 per cent in the month compared to a 0.07 per cent deflation in the previous month.

The WPI data also revealed that the wholesale price rise for ‘fuel and power’ segment declined sharply to 1.85 per cent compared to 8.38 per cent in December 2018 due to ease in prices of fuel and liquified petroleum gas (LPG).

Earlier, as reported, the retail price inflation for the month of January also declined to 2.05 per cent. The drop was a result of lowering of food prices including commodities like vegetables and eggs.

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