WPI Inflation for January Eases To 2.84 pct

The Wholesale Price Index (WPI) inflation data for the January month was released on Thursday afternoon. Like in the previous month, inflation eased for the second consecutive month. The WPI Inflation for January eases to 2.84 percent, as against the equivalent period last year. This has been on account of mainly to soft increase in fuel and food prices.

Calculated on the basis of WPI, the inflation was 3.58 percent in December 2017 and 4.26 percent in January 2017. The released data has arrived lower than the estimated forecast of Wholesale Price Index inflation for January at 3.25 percent by Reuters. The Wholesale prices of food for the January month has spiked by 1.65 percent on a year on year basis, whereas it has inched higher by 2.91 percent in the month earlier.

On Thursday Stock market closing bell, the BSE Sensex ended higher by 141.52 points to 34,297.47 and the NSE Nifty50 rose 44.60 points to 10,545.50 after WPI inflation eases.