Business Economy

WPI inflation rises to 2.93% in February

Inflation based on wholesale prices rose to 2.93% in February over the previous month due to hardening of prices of primary articles, fuel and power, according to government data released on Thursday.

The Wholesale Price Index (WPI) based inflation stood at 2.76% in January, 2019.

WPI inflation stood at 2.74% during February 2018.

Inflation of primary articles, which includes kitchen essentials like potato, onion, fruits, and milk increased to 4.84% during the month, as against 3.54% in January, the data revealed.

The WPI data further revealed that wholesale-based price inflation for ‘fuel and power’ segment increased to 2.23% in February as against 1.85% in January 2019.

The Reserve Bank of India, which mainly factors in retail inflation based Consumer Price Index (CPI), had cut the key lending rate by 0.25% in February.

Source: thehindu.com

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