According to the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT), which is part of the Ministry of Commerce and Industry, “Mineral oils, chemicals & chemical products, textiles, crude petroleum & natural gas, textiles, and food products are major contributors to the decline in the rate of inflation in January 2023.”
In comparison to the previous month’s 150.4, the official WPI for all commodities (Base: 2011–12 = 100) for the month of January 2023 was 150.6.
The weighted index for manufactured goods (weight 64.23%) rose to 141.3 in January 2023 from 141.1 in December 2022. However, the subgroup’s “Manufacture of Textiles” indicator fell from 138.4 the previous month to 137.2 this month. The index for “Manufacture of Wearing Apparel” also dropped from 149.9 the month before to 149.5 this month.
The index for primary items (weight 22.62%) increased from 172.4 the previous month to 174.0 in January. On the other hand, the index for power and fuel (weight 13.15%) dropped from 158.0 in December 2022 to 155.8 now.
The National Statistics Office, which is part of the ministry of statistics and programme implementation, reports that the consumer price index (CPI) for all of India on base 2012=100 stood at 6.52 (provisional) in January 2023 as opposed to 5.72 (final) in December 2022 and 6.01 in January 2021
