February Wholesale Inflation eases to 3.85 percent compared January's WPI: Centre

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.

Team Newsable

First Published Mar 14, 2023, 1:17 PM IST | Last Updated Mar 14, 2023, 1:17 PM IST

A government data that was released on Tuesday (March 14) revealed that 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.

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In a statement, the commerce and industry ministry said, "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."

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.

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Consumer price index based retail inflation declined to 6.44 per cent in February from 6.52 percent in January. In its monetary policy review last month, the Reserve Bank of India (RBI) had hiked the key interest rate by 25 basis points to 6.50 percent, saying core inflation still remains sticky.

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