According to government data released today, inflation based on wholesale prices plummeted to 2.76 percent in January as compared to the previous month, reaching  a 10-month low on the back of falling prices of fuel and some food items.

According to the data, the Wholesale Price Index (WPI) based inflation in December 2018 stood at 3.8 percent and 3.02 percent in January 2018. The data also suggested that inflation in kitchen essentials like potato, onion, fruits, and milk softened in January over the previous month.

The retail inflation which was released earlier this week also posted a marginal decline to 2.05 percent in January over the previous month due to the continuous decline in food prices, including vegetables and eggs.

The WPI data also showcased that wholesale-based price inflation for fuel and power segment sharply declined to 1.85 percent as against 8.38 percent in December 2018, due to easing in prices of motor fuel and LPG.

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