Ministry of Commerce and Industry has reported an increase in wholesale inflation for the month of February

Ministry of Commerce and Industry has reported an increase in wholesale inflation for the month of February

¨     Ministry of Commerce and Industry has reported an increase in wholesale inflation for the month of February.

¨     India's Wholesale Price Index (WPI)-based inflation rate rose to 2.13% on a year-on-year basis.

¨     This figure is higher than the 1.81% recorded in January.

¨     On a monthly basis, the pace of inflation slowed down to 0.25%.

¨     The primary driver behind this increase was a rise in prices within the manufacturing-related sectors.

¨     Basic metals and textiles were the key contributors to this rise.

¨     Prices of food items and non-food articles also increased.

¨     The annual inflation rate for manufactured products stood at 2.92%.

¨     This category holds the largest share within the WPI basket.

¨     Inflation in primary articles surged to 3.27%. Last month, it stood at 2.21%.

¨     The trend of deflation continued in the fuel and power sector.

¨     Prices in this category declined by 3.78% on a year-on-year basis.

¨     However, this decline was narrower compared to the 4.01% drop recorded in January.

¨     The WPI Food Index registered an increase of 1.85% on an annual basis.

¨     This index encompasses both food items and processed food products.

¨     This trend in wholesale inflation aligns with the trend observed in retail inflation.

¨     During the same period, retail inflation also rose. It increased to 3.21% in February, up from 2.74% in January.