Growth in services activity picked up in Feb, inflation pressure predicted

Growth in India's dominant services industry picked up less than expected in February despite an easing of COVID-19 restrictions, a private survey showed, while price pressures led firms to shed jobs at the quickest pace since July.

Those inflationary effects will likely intensify as the survey was conducted before Russia's invasion of Ukraine, which is driving a surge in oil prices - India's biggest import.

The Services Purchasing Managers' Index, compiled by IHS Markit, increased to 51.8 in February from January's six-month low of 51.5.

Although above the 50-mark that separates growth from contraction for a seventh month, it was well short of