WPI inflation rises to 13.11% in Feb, against 12.96% in January
India’s annual wholesale price-based inflation (WPI) accelerated to 13.11 per cent in February from the preceding month’s 12.96 per cent, authorities data confirmed on Monday.
February’s discern was once once higher than 12.10 per cent forecast in a Reuters ballot of analysts, amid greater gasoline prices, which had been up 31.50 per cent on the year, versus 32.27 per cent in January.
WPI inflation has remained in double digits for the eleventh consecutive month starting April 2021. Inflation final month was once 12.96 per cent, at the same time as in February final year, it was once 4.83 per cent. Inflation in meals articles, however, eased to 8.19 per cent in February from 10.33 per cent. Vegetable inflation was once 26.93 per cent in February, in opposition to 38.45 per cent in the preceding month, PTI reported.
“The excessive charge of inflation in February 2022, is distinctly due to upward jostle in expenses of mineral oils, predominant metals, chemicals and chemical products, crude petroleum & natural gas, food articles and non-food articles etc as compared to the corresponding month of the previous year,” the Commerce and Industry Ministry said in a statement.
Inflation in manufactured items was 9.84 per cent in February, against 9.42 per cent in January. In the fuel and power basket, the rate of price rise was 31.50 per cent during the month.
Inflation in crude petroleum spiked to 55.17 per cent during February, against 39.41 per cent in the previous month, on rising prices of crude oil globally.
The Reserve Bank last month kept its key repo rate–at which it lends short-term money to banks–unchanged for the 10th time in a row at 4 per cent, to support growth as well as manage inflationary pressures.
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