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Wholesale inflation rises to 2.93 pc in Feb

Press Trust of India  |  New Delhi 

based on wholesale prices inched up to 2.93 per cent in February over the previous month on account of firming up of prices of food items, including vegetables and cereals, according to government data released Thursday.

The Wholesale Price Index (WPI)-based was 2.76 per cent in January this year and 2.74 per cent in February 2018.

Earlier this week, the Consumer Price Index data also showed that retail inflation, which is factored in by the RBI while deciding key interest rate, rose to 2.57 per cent, which was a four-month-high level, in February due to

According to the latest WPI data, the in the was 4.28 per cent in February, compared with 2.34 per cent in the previous month.

On a monthly basis, the data showed that inflation was higher in cases of cereals, paddy, wheat, pulses, vegetables, fruits and other protein-rich kitchen essentials such as egg, meat and fish.

However, the rate of price rise in February was slower in the case of milk.

The wholesale inflation in the fuel and power segment was also higher at 2.23 per cent, compared with 1.85 per cent in January.

Meanwhile, the WPI for December 2018 has been revised downwards at 3.46 per cent as compared to provisional estimate of 3.8 per cent.

In its analysis of the WPI data, said inflation in the has started moving up from the trough reached last month both at

"The rise in wholesale inflation can be ascribed to increase in primary and ..The build-up inflation so far (April 2018-Feb 2019) was 2.75 per cent, higher than the 2.56 per cent registered in the corresponding period last year," it said.

Now, all eyes are on the Reserve Bank of India's (RBI) Monetary Policy Committee, which will be meeting in April for the first bi-monthly monetary policy review of the next fiscal, at a time when growth rate of industrial production is slowing and inflation inching up.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 14 2019. 16:45 IST
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