Wholesale Price Index (WPI) Inflation eases at 2.84 % for January 2018
Wholesale Price Index (WPI) Inflation India eases at 2.84 % for the month of January 2018, which is a 6 months low due to the decrease price of Food products and fuel. There was a 1.88 % WPI inflation for the last July 2018.
The WPI for the December 2017 was at 3.58 % as compared to this January, the recent inflation difference with the previous was at 0.74 %. The Vegetables are at low and the Onions were at high prices in January.
Wheat, Egg, Fish and Meat are the low prices, but the Fruits went high. Due to this, the inflation slightly adjusted with average there.
The Fuel prices are also decreased to 1.2 % this January, as it was at 8.8 percent in the last December 2017.
Vegetables and Onion Inflation Prices are 40.77 percent and 194 percent respectively. The Fruit prices were at 8.50 percent. The Fuel and energy went at 4 %
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The Retail Inflation (Consumer price index -CPI) for the January 2018 was 5.07 %. On based of this CPI inflation, the Reserve bank of India (RBI) decides the Bank Repo rate changes on its monetary policy committee.
The Government of India also planned to change the Base year for Gross Domestic Production (GDP), Index of Industrial Production (IIP), and the Consumer price index (CPI). The Effect base year for GDP and IIP will be the Financial year 2018 (FY 2017-18) from the previous FY 2011-12. For the Retail Inflation – CPI, the new base year will be this year 2018 from the year 2012. This recommendation and the effect already discussed in the Budget India 2018.
The Government also said that, the changes of Base year will improve the statistical data system in the Emerging Social – Economy. In India, there are two types of Inflation followed by the Government to analyze the economy – WPI and CPI.
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