New Delhi: India’s wholesale price-based inflation (WPI) eased to 0.2 p.c in February as in comparison with 0.27 p.c in January, information launched by the Commerce and Industry Ministry confirmed on Thursday.
“The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 0.20% (Provisional) for the month of February, 2024 (over February, 2023). Positive rate of inflation in February, 2024 is primarily due to increase in prices of food articles, crude petroleum & natural gas, electricity, machinery & equipment and motor vehicles, trailers & semi-trailers etc,” stated an official launch.
Fuel and energy basket inflation eased to -1.59 p.c final month from -0.51 p.c in January. In manufactured merchandise, inflation was -1.27 p.c as towards -1.13 p.c.
The month over month change in WPI index for the month of February, 2024 stood at 0.07% as in comparison with January, 2024.
For the month of December, 2023 the ultimate Wholesale Price Index and inflation fee for ‘All Commodities’ (Base: 2011-12=100) stood at 151.8 and 0.86% respectively.
The different items that recorded a rise in inflation throughout Feb embody pure fuel, electrical energy, equipment & tools and motor automobiles, trailers & semi-trailers and so forth.
Suman Chowdhury, Chief Economist and Head -Research, Acuité Ratings & Research stated, “The deflationary development in manufacturing items could reverse solely progressively over the following few months. Overall WPI inflation print is predicted will likely be formed by the development within the meals class and within the absence of any main surprises, ought to stay vary sure between 0%-1.0% over the following two quarters.”
Source: zeenews.india.com
