Wholesale inflation eases to 3.85 pc in February
The wholesale price based inflation eased for the ninth consecutive month to 3.85 per cent in February on easing prices of manufactured items and fuel and power, showed the government data released on Tuesday.
The wholesale price index (WPI) based inflation rate was 4.73 per cent in January this year and 13.43 per cent in February 2022. Inflation in food articles, however, rose to 3.81 per cent in February, as against 2.38 per cent in January. “Decline in the rate of inflation in February 2023 is primarily contributed by fall in prices of crude petroleum & natural gas, non-food articles, food products, minerals, computer, electronic & optical products, chemicals & chemical products, electrical equipment and motor vehicles, trailers & semi-trailers,” the commerce and industry ministry said.
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Inflation in pulses was 2.59 per cent, while in vegetables was (-)21.53 per cent. Inflation in oil seeds was (-)7.38 per cent in February 2023. Fuel and power basket inflation eased to 14.82 per cent from 15.15 per cent in the preceding month. In manufactured products it was 1.94 per cent, against 2.99 per cent in January. The deceleration in WPI comes in line with the dip in retail inflation, data of which was released on Monday. Consumer price index based retail inflation declined to 6.44 per cent in February from 6.52 per cent in January. In its monetary policy review last month, the Reserve Bank of India had hiked key interest rate by 25 basis points to 6.50 per cent, saying core inflation still remains sticky.