New Delhi: India’s annual wholesale price-based inflation (WPI) eased to the lowest in over two years, dragged down by a fall in overall input costs for manufacturers on the back of favourable commodity prices.
WPI in February eased to 3.85 per cent year-on-year, compared with 4.73 per cent in the previous month.
It was below the Reuters forecast of 4 per cent, and also marked the lowest since January 2021, when it recorded 2.51 per cent.
In February food index rose 2.76 per cent year-on-year, from 2.95 per cent in January, while fuel and power rose 14.82 per cent from 15.15 per cent.
Decline in the rate of inflation was broad based primarily driven by fall in prices of crude, energy prices, non-food and food articles, the government said in the statement.
Data released on Monday showed India’s annual retail inflation eased to 6.44 per cent in February, helped by a fall in the price of some food items.
However, concerns about price pressures remain as retail inflation was above central bank’s upper tolerance of 6 per cent for the second consecutive month, with core inflation remaining sticky.
(Reporting by Aftab Ahmed and Shivangi Acharya; Editing by Kim Coghill & Shri Navaratnam)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content.
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