Saturday, April 1, 2023

Wholesale inflation eases to 3.85% in February – Usky News

New Delhi: Wholesale price-based inflation declined for the ninth consecutive month in February to 3.85 per cent as prices of manufactured goods and fuel and power eased, government data released on Tuesday showed. Wholesale Price Index (WPI) based inflation was 4.73 per cent in January this year and 13.43 per cent in February 2022.
However, food inflation rose to 3.81 per cent in February from 2.38 per cent in January.
“The decline in inflation in February 2023 is mainly due to a decline in the prices of crude petroleum and natural gas, non-food articles, food products, minerals, computer, electronic and optical products, chemicals and chemical products, electrical appliances and motors.” The contribution is vehicles, trailers and semi-trailers,” said the Ministry of Commerce and Industry.
Inflation in pulses was 2.59 per cent, while that in vegetables was (-)21.53 per cent. Inflation in oilseeds in February 2023 stood at (-)7.38 per cent.
Fuel and power basket inflation eased to 14.82 per cent from 15.15 per cent in the previous month. In manufactured products, it was 1.94 per cent as against 2.99 per cent in January.
The decline 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 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 raised the key interest rate by 25 basis points to 6.50 per cent, saying that core inflation was still stable.


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