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India’s retail inflation surged to a three-month high of 5.03 per cent in February, as against 4.06 per cent in the previous month, as petrol and diesel prices rose sharply. This may lead to the demand for fuel tax cuts growing louder in the coming days. Food inflation rose to 3.87 per cent from 3.11 per cent over this period.
While the consumer price index-based fuel and light inflation rate stood at 3.53 per cent in the month compared to 3.82 per cent in January, the devil lies in detail. Within the category, petrol saw the inflation rate surging to 20.57 per cent in February compared to 12.53 per cent in January. Diesel, on the other hand, saw the rate
