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Inflation based on wholesale prices fell to an over two-year low of 3.85 per cent in January as prices of manufactured items, fuel and power eased, although food items remained expensive.
This is the ninth straight month of decline in the wholesale price index (WPI) based inflation rate.
WPI inflation was 4.73 percent in January and 13.43 percent in February, last year.
“The reduction in the inflation rate in February 2023 is mainly contributed by the reduction in the prices of crude petroleum and natural gas, non-food items, food products, minerals, computer, electronic and optical products, chemicals and chemical products, electrical appliances and motors. vehicles, trailers and semi-trailers,” the trade and industry ministry said on Tuesday.