NEW DELHI: Inflation based on wholesale prices eased for the ninth consecutive month to 3.85 percent in February on the back of lower prices of manufactured goods and fuel and electricity, government data showed on Tuesday. Based on the wholesale price index (WPI), the inflation rate was 4.73 percent in January of this year, and 13.43 percent in February 2022.
Food inflation rose to 3.81 percent in February from 2.38 percent in January.
“The decrease in the inflation rate in February 2023 was primarily due to the decrease in the prices of crude oil and natural gas, non-food products, food products, minerals, computer, electronic and optical products, chemical and chemical products, electrical equipment and motors. vehicles, trailers and semi-trailers,” said the Ministry of Trade and Industry.
Inflation in cereals amounted to 2.59 percent, while in vegetables it was (-)21.53 percent. Inflation in oilseeds amounted to (-)7.38 percent in February 2023.
Inflation of the fuel and power basket decreased to 14.82 percent from 15.15 percent in the previous month. In the manufactured product, it was 1.94 percent compared to 2.99 percent in January.
The slowdown in WPI is in line with the fall in retail inflation, the data of which was released on Monday.
Retail inflation, based on the consumer price index, fell to 6.44 percent in February from 6.52 percent in January.
In its monetary policy review last month, the Reserve Bank of India raised the key interest rate by 25 basis points to 6.50 percent, saying core inflation remained sticky.
Food inflation rose to 3.81 percent in February from 2.38 percent in January.
“The decrease in the inflation rate in February 2023 was primarily due to the decrease in the prices of crude oil and natural gas, non-food products, food products, minerals, computer, electronic and optical products, chemical and chemical products, electrical equipment and motors. vehicles, trailers and semi-trailers,” said the Ministry of Trade and Industry.
Inflation in cereals amounted to 2.59 percent, while in vegetables it was (-)21.53 percent. Inflation in oilseeds amounted to (-)7.38 percent in February 2023.
Inflation of the fuel and power basket decreased to 14.82 percent from 15.15 percent in the previous month. In the manufactured product, it was 1.94 percent compared to 2.99 percent in January.
The slowdown in WPI is in line with the fall in retail inflation, the data of which was released on Monday.
Retail inflation, based on the consumer price index, fell to 6.44 percent in February from 6.52 percent in January.
In its monetary policy review last month, the Reserve Bank of India raised the key interest rate by 25 basis points to 6.50 percent, saying core inflation remained sticky.
