Wholesale inflation rose to a 30-month high of 5.25 per cent in January this year. Inflation rose amid climbing global crude oil prices, even though food prices moderated. Wholesale price index based inflation had stood at 3.39 per cent in December last year, and minus 1.07 per cent in January last year.
According to Commerce Ministry data, wholesale inflation in the ‘fuel and power’ basket more than doubled, to 18.14 per cent in January this year, from 8.65 per cent in December 2016. But food inflation stood at minus 0.56 per cent in January, meaning that food prices fell. Wholesale inflation in vegetables was minus 32.32 per cent in January. Wholesale inflation in manufactured items rose slightly, to 3.99 per cent in January, from 3.67 per cent in December.