February wholesale inflation down marginally at 2.48%

Jeannie Matthews
March 15, 2018

India's annual rate of inflation, based on monthly wholesale price index (WPI), stood at 2.48 per cent for the month of February 2018 over same month of past year.

Wholesale inflation moderated for the third consecutive month to a seven-month low in February on the back of cooling food and non-food articles.

According to a government data released on Wednesday, inflation in food articles slowed to 0.88 per cent in February from 3 per cent in the preceding month. Retail inflation had climbed over 5 per cent in January.

Retail prices in February too had eased with consumer price index-based inflation falling to a four-month low of 4.44 per cent in February from 5.07 per cent in January.

Wholesale food prices in February rose 0.07% from a year earlier, compared with 1.65% in January, the data showed.

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Wholesale inflation in onion slowed to 118.95 per cent, but rose marginally in the case of potato to 11.67 per cent. Prices of pulses, meanwhile, have fallen by almost 25 per cent and of wheat by 6.23 per cent during the same period.

The index for "Crude Petroleum and Natural Gas" group rose by 2.9 per cent to 80.6 (provisional) from 78.3 (provisional) for the previous month due to higher price of crude petroleum (3 per cent) and natural gas (2 per cent).

Primary food and non-food articles, fuel and power and manufactured food products were the key drivers of the easing in the WPI inflation in February 2018.

However, expenses on manufactured products in the month under review registered a rise of 3.04 per cent, from 2.78 per cent in January.

The latest inflation was in line with a 2.50 per cent increase forecast by economists in a Reuters poll.

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