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WPI inflation down to 2.48% for February

Author: IANS/Wednesday, March 14, 2018/Categories: Economy

WPI inflation down to 2.48% for February

New Delhi, March 14 - Wholesale price-indexed (WPI) inflation in India softened during February marginally at 2.48% from 2.84% in the previous month, primarily due to lower fuel and food prices, official data showed on March 14.

According to a Commerce Ministry release, the WPI inflation in February 2017 was more than double at 5.1%.

March 14th’s wholesale inflation data follows the retail inflation figures for February released earlier this week, which showed a slight cooling in the consumer price-indexed (CPI) inflation at 4.4% on the back of lower food and fuel prices. Retail inflation had climbed over 5% in January. 

On a sequential basis, the expenses during the month in consideration on primary articles, which constitute 22.62% of the WPI's total weightage, rose marginally by 0.79%, from an increase of 2.37% in January 2018.

Among primary articles, food, which has a weightage of 15.26% in the index, edged up last month by 0.88% from an acceleration of 3% reported for January.

The cost of fuel and power, which commands a 13.15% weightage in the index, increased at a slower pace of 3.81% during the month, from a growth of 4.08% in January.

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

Onion prices in February soared higher by 118.95% and potatoes by 11.67%.

The overall vegetable prices in February rose by 11.67%, against a higher increase of 40.77% in the previous month.

Fuel-wise, prices in February of both high-speed diesel and petrol climbed higher than in the previous month, by 7.41% and 2.52%, respectively. However, LPG rose lower at 8.5%.

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Kavita Giridhar Mallya


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