New Delhi: The annual rate of inflation is 12.96 per cent (Provisional) for January, 2022 (over January, 2021), which is a continuous decline from 14.87  per cent in November, 2021 and 13.56 per cent in December, 2021, the Ministry of Commerce & Industry said in a satement. 

The high rate of inflation in January, 2022 is primarily due to rise in prices of mineral oils, crude petroleum and natural gas, basic metals, chemicals and chemical products, food articles etc as compared the corresponding month of the previous year.

The Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade (DPIIT) released index numbers of wholesale price in India (Base Year: 2011-12) for January, 2022 (Provisional) and for November, 2021 (Final) today. 

The provisional figures of Wholesale Price Index (WPI) are released on 14th of every month (or next working day) with a time lag of two weeks of the reference month and compiled with data received from institutional sources and selected manufacturing units across the country. 

After 10 weeks, the index is finalized and final figures are released and then frozen thereafter.

 RBI Governor Shaktikanta Das, said, "As far as India is concerned, if you look at the momentum of inflation right from last October onward, it is on a downward slope. It's primarily the statistical reasons, the base effect, which has resulted in higher inflation especially in Q3."

The same base effect will play in different ways in the coming months. Today's inflation print is expected to be close to 6 per cent. That should not surprise or create any alarm because we have taken that into consideration, Das added.