Annual Rate of Inflation on All India Wholesale Price Index (WPI) falls to 4.73%

Annual rate of inflation based on all India Wholesale Price Index (WPI) falls to 4.73% (Provisional) for the month of January, 2023 (over January, 2022) against 4.95% recorded in December, 2022

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The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 4.73% (Provisional) for the month of January, 2023 (over January, 2022) against 4.95% recorded in December, 2022. Decline in the rate of inflation in January, 2023 is primarily contributed by mineral oils, chemicals & chemical products, textiles, crude petroleum & natural gas, textiles, and food products. The index numbers and inflation rate of all commodities and WPI components for the last three months are given below:


Index Numbers and Annual Rate of Inflation (Y-o-Y in %)*
All Commodities/Major GroupsWeight (%)Nov-22 (F)Dec-22 (P)Jan-23 (P)
All Commodities100152.56.12150.44.95150.64.73
I. Primary Articles22.6178.45.94172.42.38174.03.88
II. Fuel & Power13.2162.819.71158.018.09155.815.15
III. Manufactured Products64.2141.33.44141.13.37141.32.99
Food Index24.4174.92.52170.30.65171.22.95

Note: P: Provisional, F: Final, *Annual rate of WPI inflation calculated over the corresponding month of previous year


2. The month over month change in WPI for the month of January, 2023 stood at 0.13 % as compared to December, 2022. The monthly change in WPI for the last six months is summarized below:


Month over Month (M-o-M in %) change in WPI Index#
All Commodities/Major GroupsWeightAug-22Sep-22Oct-22Nov-22Dec-22 (P)Jan-23 (P)
All Commodities100.00-0.52-0.850.66-0.26-1.380.13
I. Primary Articles22.620.68-1.353.01-1.55-3.360.93
II. Fuel & Power13.15-4.44-0.50-0.253.04-2.95-1.39
III. Manufactured Products64.230.00-0.70-0.21-0.42-0.140.14
Food Index24.381.15-0.621.48-1.58-2.630.53

Note: P: Provisional, #Monthly rate of change, based on month over month (M-o-M) WPI calculated over the preceding month


3. Month over Month Change in Major Groups of WPI:


  1. Primary Articles (Weight 22.62%):- The index for this major group increased by 0.93% to 174.0 (provisional) in January, 2023 from 172.4 (provisional) for the month of December, 2022. Prices of Minerals (2.62%), Non-food Articles (1.58%) and Food Articles (0.92%) increased in January, 2023 as compared to December, 2022. Prices of Crude Petroleum & Natural Gas declined by 0.85% in January, 2023 as compared to December, 2022.


  1. Fuel & Power (Weight 13.15%):- The index for this major group declined by 1.39% to 155.8 (provisional) in January, 2023 from 158.0 (provisional) for the month of December, 2022. Prices of Mineral Oils declined by 2.13% in January, 2023 as compared to December, 2022.


  1. Manufactured Products (Weight 64.23%):- Index for this major group increased by 0.14% to 141.3 (provisional) in January, 2023 from 141.1 (provisional) for the month of December, 2022. Out of the 22 NIC two-digit groups for Manufactured products, 12 groups have witnessed increase in prices while 10 groups have witnessed a decrease in prices. The increase in price is mainly contributed by basic metals; tobacco products; electrical equipment; computer, electronic & optical products; motor vehicles, trailers & semi-trailers; other transport equipment; printing & reproduction of recorded media etc. Some of the groups that have witnessed decrease in prices are other manufacturing; textiles; chemical & chemical products; fabricated metal products except machinery & equipment; rubber & plastic products, wearing apparel, etc. in January, 2023 as compared to December, 2022.


4. WPI Food Index (Weight 24.38%): The Food Index consisting of ‘Food Articles’ from Primary Articles group and ‘Food Product’ from Manufactured Products group have increased from 170.3 in December, 2022 to 171.2 in January, 2023. The rate of inflation based on WPI Food Index increased from 0.65% in December, 2022 to 2.95% in January, 2023.


5. Final index for the month of November, 2022 (Base Year: 2011-12=100): For the month of November, 2022 the final Wholesale Price Index and inflation rate for ‘All Commodities’ (Base: 2011-12=100) stood at 152.5 and 6.12% respectively. The details of all India Wholesale Price Indices and Rates of Inflation for different commodity groups for January, 2023 are at Annex I. The Annual rate of Inflation (Y-o-Y) based on WPI for different commodity groups in the last six months are at Annex II. WPI for different commodity groups in the last six months is at Annex III.


  1. Response Rate: The WPI for January, 2023 have been compiled at a weighted response rate of 84.2 percent, while the final figure for November, 2022 is based on the weighted response rate of 93.5 percent. The provisional figures of WPI will undergo revision as per the revision policy of WPI. This press release, item indices, and inflation numbers are available at our home page


  1. Next date of Press Release: WPI for the month of February, 2023 will be released on 14/03/2023.


Note: The DPIIT released index numbers of wholesale price in India on monthly basis on 14th of every month (or next working day) with a time lag of two weeks of the reference month, and the index numbers is compiled with data received from institutional sources and selected manufacturing units across the country. This press release contains WPI (Base Year 2011-12=100) for the month of January, 2023 (Provisional), November, 2022 (Final) and other months/years. Provisional figures of WPI is finalised after 10 weeks, and then frozen thereafter.


All India Wholesale Price Indices and Rates of Inflation (Base Year: 2011-12=100) for January, 2023

Commodities/Major Groups/Groups/Sub-Groups/ItemsWeightIndex


Latest month over monthCumulative Inflation (YoY)WPI Based rate of Inflation (YoY)
ALL COMMODITIES100150.60.350.1312.7810.8413.684.73
I. PRIMARY ARTICLES22.62174.0-0.530.939.3011.4815.603.88
A. Food Articles15.26176.1-2.660.923.317.7610.402.38
Eggs, Meat & Fish2.40169.32.541.448.404.5610.182.23
B. Non-Food Articles4.12173.40.791.5820.4411.2820.484.52
Oil Seeds1.12201.90.330.9534.87-2.8323.27-4.22
C. Minerals0.83203.99.772.6219.054.5130.03-9.26
D. Crude Petroleum & Natural gas2.41151.411.89-0.8556.1653.7355.4023.79
Crude Petroleum1.95125.815.19-0.7980.1643.3360.595.01
II. FUEL & POWER13.15155.81.12-1.3932.8132.0134.3615.15
III. MANUFACTURED PRODUCTS64.23141.30.510.1411.166.669.502.99
Mf/o Food Products9.12163.10.19-0.1212.055.848.063.95
Vegetable And Animal Oils and Fats2.64166.70.39-1.4833.850.5013.71-7.80
Mf/o Beverages0.91130.00.080.391.821.592.832.12
Mf/o Tobacco Products0.51166.4-0.741.281.952.841.903.55
Mf/o Textiles4.88137.20.72-0.8715.257.7313.89-2.14
Mf/o Wearing Apparel0.81149.50.00-
Mf/o Leather and Related Products0.54122.00.920.250.622.941.940.91
Mf/o Wood and of Products of Wood and Cork0.77143.3-0.42-0.284.732.014.110.99
Mf/o Paper and Paper Products1.11147.90.64-0.2012.7812.5414.604.08
Mf/o Chemicals and Chemical Products6.47143.20.51-0.6912.8510.6013.824.15
Mf/o Pharmaceuticals, Medicinal Chemical and Botanical Products1.99141.80.370.073.853.734.263.43
Mf/o Rubber and Plastics Products2.30128.30.16-0.1612.844.729.650.79
Mf/o other Non-Metallic Mineral Products3.20134.60.56-0.074.828.477.167.00
Cement, Lime and Plaster1.64137.6-
Mf/o Basic Metals9.65145.00.851.4026.088.3416.531.33
Mild Steel – Semi Finished Steel1.27124.42.031.8819.708.3612.503.15
Mf/o Fabricated Metal Products, Except Machinery and Equipment3.15137.70.08-0.1512.897.1211.283.38

Note: * = Provisional, Mf/o = Manufacture of


Commodities/Major Groups/Groups/Sub-Groups/ItemsWeightWPI based inflation figures in the last 6 months
ALL COMMODITIES100.012.4810.558.676.124.954.73
I. PRIMARY ARTICLES22.6214.7411.5411.175.942.383.88
A. Food Articles15.2612.5511.038.451.51-1.252.38
Eggs, Meat & Fish2.47.883.633.972.333.342.23
B. Non-Food Articles4.128.424.348.007.863.714.52
Oil Seeds1.12-13.48-16.55-5.36-1.29-4.81-4.22
C. Minerals0.837.41-2.4210.13-0.05-2.93-9.26
D. Crude Petroleum & Natural gas2.4159.9444.7243.5748.2339.7123.79
Crude Petroleum1.9550.5732.1830.6933.8721.925.01
II. FUEL & POWER13.1535.0333.1125.4019.7118.0915.15
III. MANUFACTURED PRODUCTS64.237.516.124.423.443.372.99
Mf/o Food Products9.125.772.833.284.444.283.95
Vegetable and Animal Oils and Fats2.64-1.22-8.22-7.47-5.16-6.05-7.80
Mf/o Beverages0.910.861.181.331.411.812.12
Mf/o Tobacco Products0.512.242.812.503.021.483.55
Mf/o Textiles4.8810.488.405.710.80-0.57-2.14
Mf/o Wearing Apparel0.815.143.753.544.023.593.32
Mf/o Leather and Related Products0.544.143.962.693.121.590.91
Mf/o Wood and of Products of Wood and Cork0.772.341.921.060.630.840.99
Mf/o Paper and Paper Products1.1116.6015.1611.378.094.964.08
Mf/o Chemicals and Chemical Products6.4712.5111.378.946.455.414.15
Mf/o Pharmaceuticals, Medicinal Chemical and Botanical Products1.994.854.313.823.893.733.43
Mf/o Rubber and Plastics Products2.305.634.521.970.391.100.79
Mf/o other Non-Metallic Mineral Products3.209.349.627.847.187.677.00
Cement, Lime and Plaster1.649.249.728.066.528.268.35
Mf/o Basic Metals9.659.576.391.18-0.280.781.33
Mild Steel – Semi Finished Steel1.278.648.134.303.273.303.15
Mf/o Fabricated Metal Products, Except Machinery and Equipment3.157.206.515.194.083.613.38

Note: * = Provisional, Mf/o = Manufacture of


Commodities/Major Groups/Groups/Sub-Groups/ItemsWeightWPI in the last 6 months
ALL COMMODITIES100.0153.2151.9152.9152.5150.4150.6
I. PRIMARY ARTICLES22.62178.3175.9181.2178.4172.4174.0
A. Food Articles15.26182.0182.2186.1181.0174.5176.1
Eggs, Meat & Fish2.4171.2171.3167.8166.8166.9169.3
B. Non-Food Articles4.12175.1168.2166.0168.8170.7173.4
Oil Seeds1.12207.3196.1189.0199.7200.0201.9
C. Minerals0.83192.9185.7196.8198.5198.7203.9
D. Crude Petroleum & Natural gas2.41155.3145.3170.7171.2152.7151.4
Crude Petroleum1.95146.2133.9151.6149.4126.8125.8
II. FUEL & POWER13.15159.2158.4158.0162.8158.0155.8
III. MANUFACTURED PRODUCTS64.23143.2142.2141.9141.3141.1141.3
Mf/o Food Products9.12166.7163.3163.7164.6163.3163.1
Vegetable and Animal Oils and Fats2.64186.4173.1173.3174.7169.2166.7
Mf/o Beverages0.91128.3128.4129.1129.1129.5130.0
Mf/o Tobacco Products0.51164.2164.4164.2163.9164.3166.4
Mf/o Textiles4.88146.5144.5142.5139.2138.4137.2
Mf/o Wearing Apparel0.81149.3149.4149.3150.0149.9149.5
Mf/o Leather and Related Products0.54123.3123.4122.2122.4121.7122.0
Mf/o Wood and of Products of Wood and Cork0.77144.1143.4142.9143.0143.7143.3
Mf/o Paper and Paper Products1.11154.5154.2152.8150.9148.2147.9
Mf/o Chemicals and Chemical Products6.47146.6146.0146.3145.2144.2143.2
Mf/o Pharmaceuticals, Medicinal Chemical and Botanical Products1.99140.6140.3141.2141.5141.7141.8
Mf/o Rubber and Plastics Products2.30129.4129.5129.2128.1128.5128.3
Mf/o other Non-Metallic Mineral Products3.20133.5133.3133.5134.3134.7134.6
Cement, Lime and Plaster1.64137.1136.6136.7137.3137.6137.6
Mf/o Basic Metals9.65148.9146.6145.6143.2143.0145.0
Mild Steel – Semi Finished Steel1.27127.0126.3126.1123.2122.1124.4
Mf/o Fabricated Metal Products, Except Machinery and Equipment3.15140.0139.1137.7137.8137.9137.7

Note: * = Provisional, Mf/o = Manufacture of


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