Consumer worth index based mostly retail inflation declined to 6.44% in February from 6.52% in January. Image for illustration objective solely.
| Photo Credit: Reuters
India’s wholesale worth inflation (WPI) moderated to 3.85% in February from 4.73% in January, with manufactured merchandise’ inflation cooling from 3% in January to somewhat below 2%, and first articles meals and gasoline and energy inflation recording milder downturns in inflation month-on-month inflation.
Base results additionally performed a task as February 2022 had clocked a 13.43% uptick in wholesale costs.
“Decline in the rate of inflation in February 2023 is primarily contributed by fall in prices of crude petroleum & natural gas, non-food articles, food products, minerals, computer, electronic & optical products, chemicals & chemical products, electrical equipment and motor vehicles, trailers & semi-trailers,” the commerce and business ministry mentioned.
Inflation in pulses was 2.59%, whereas in greens was (-)21.53%. Inflation in oil seeds was (-)7.38% in February 2023.
Fuel and energy basket inflation eased to 14.82% from 15.15% in the previous month. In manufactured merchandise it was 1.94%, in opposition to 2.99% in January.
The deceleration in WPI comes in line with the dip in retail inflation, information of which was launched on Monday.
Consumer worth index based mostly retail inflation declined to 6.44% in February from 6.52% in January.
In its financial coverage evaluate final month, the Reserve Bank of India had hiked key rate of interest by 25 foundation factors to 6.50%, saying core inflation nonetheless stays sticky.
(With PTI inputs)
