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April 13, 2024 6:40 am

Wholesale inflation eases to 3.85 per cent in February

New Delhi, March 14

The wholesale price-based inflation eased for the ninth consecutive month to 3.85 percent in February on easing prices of manufactured items and fuel and power, showed the government data released on Tuesday.

The wholesale price index (WPI)-based inflation rate was 4.73 percent in January this year and 13.43 percent in February 2022.

Inflation in food articles, however, rose to 3.81 percent in February, as against 2.38 percent in January.

“Decline in the rate of inflation in February 2023 is primarily contributed by fall in prices of crude petroleum and natural gas, non-food articles, food products, minerals, computer, electronic and optical products, chemicals and chemical products, electrical equipment and motor vehicles, trailers and semi-trailers,” the commerce and industry ministry said.

Inflation in pulses was 2.59 percent, while in vegetables was (-) 21.53 percent. Inflation in oil seeds was (-) 7.38 percent in February 2023.

Fuel and power basket inflation eased to 14.82 percent from 15.15 percent in the preceding month. In manufactured products it was 1.94 percent, against 2.99 percent in January.

The deceleration in WPI comes in line with the dip in retail inflation, data of which was released on Monday.

Consumer price index-based retail inflation declined to 6.44 percent in February from 6.52 percent in January.

In its monetary policy review last month, the Reserve Bank of India had hiked key interest rate by 25 basis points to 6.5 percent, saying core inflation still remains sticky.

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