Wholesale inflation eases to 2.76% in January

The annual rate of inflation based on wholesale price index stood at 2.76 per cent last month compared to 3.02 per cent in January 2018, the government said on Thursday.

Wholesale inflation in December 2018 was 3.8 per cent. The official wholesale price index for all commodities (base: 2011-12=100) for January 2019 declined by 0.7 per cent to 119.2 from 120.1 (provisional) for the previous month.

Build up inflation rate in the financial year so far was 2.49 per cent compared to a build-up rate of 2.47 per cent in the corresponding period of previous year, according to an official statement.

On Tuesday, the government said consumer inflation stood at 2.05 per cent in January, its lowest level recorded since June 2017. That marked sixth consecutive month in which inflation came in within the Reserve Bank of India's medium-term target.

For December, consumer inflation was revised to 2.11 per cent. The RBI has maintained a medium-term goal of 4 per cent for consumer inflation.