India’s wholesale inflation eased to 2.31% in January, down from 2.37% in December, as per government data released on Friday.

Primary articles inflation dropped to 4.69% from 6.02%, while fuel and power wholesale prices declined by 2.78% compared to a 3.79% fall in December.

Manufactured product prices saw an increase, rising to 2.51% in January from 2.14% in the previous month.

Wholesale food inflation also moderated, easing to 7.47% from 8.89% in December.

Retail inflation reached a five-month low of 4.31% in January, with food inflation falling to 6.02% from 8.39% in December.

The RBI expects inflation to average 4.8% this financial year and decline to 4.2% next year while maintaining its 4% target within a 2% range.

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