New Delhi, Feb 14,2023: The wholesale price index (WPI) based inflation for January 2023 fell to 4.73 per cent against 4.95 per cent in December 2022, according to data released by the commerce ministry on Tuesday.

The fall in wholesale price inflation was owing to a decline in the rate of mineral oils, chemicals and chemical products, textiles, crude petroleum and natural gas, textiles and food products.

The wholesale inflation had fallen to 4.95 per cent in December 2022 against 6.12 per cent, which was recorded in November 2022.

The fall in WPI inflation in December 2022 too was primarily due to fall in prices of food articles, mineral oils, crude petroleum & natural gas, food products, textiles and chemicals & chemical products.