Onion costs continued to fall year-on-year for the 18th straight month since September 2021, with February 2023 recording the sharpest drop of 40.14% in wholesale costs. Image for illustration goal solely.
| Photo Credit: Reuters
India’s Wholesale Price Inflation (WPI) moderated to a two-year low of three.85% in February from 4.73% in January, with manufactured merchandise’ inflation cooling from 3% in January to a bit beneath 2%, and first articles meals and gasoline and energy inflation recording milder downturns in inflation month-on-month inflation. Base results additionally performed a job as February 2022 had clocked a 13.43% uptick in wholesale costs.
Fuel and Power inflation eased barely from 15.15% in January to a 14.8% value rise this February, in comparison with 30.8% in the identical month of 2022. Inflation measured by the Wholesale Food Index dropped from 2.95% in January to 2.76% in February, the tempo of decline barely greater than witnessed in shopper meals costs, which moved from 6% to five.95% over the identical interval.
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Onion costs continued to fall year-on-year for the 18th straight month since September 2021, with February 2023 recording the sharpest drop of 40.14% in wholesale costs amid this deflationary streak.
Vegetables inflation contracted for the fourth successive month with costs falling 21.5% from February 2022 ranges. Potato costs which had been rising sharply since February 2022, with 11 successive months of double-digit inflation, slipped 14.3% in February 2023.
While retail cereals inflation has accelerated near 17% in February, wholesale inflation within the important meals merchandise eased to a three-month low of 13.95%. Wheat inflation additionally dropped to a three-month low of 18.54 however paddy inflation sped to eight.6%, the very best in no less than two years.
Wholesale inflation in fruits (7%), and milk (10.33%) additionally marked recent highs in latest occasions and have been greater than shopper stage expertise of value rise in February, indicating there could also be room for extra retail value hikes in coming months.
Within the gasoline and energy section, LPG costs fell for the fourth straight month, however marked the slowest tempo of deflation in these 4 months at -7.1%. Inflation in petrol costs fell marginally from 15.5% in January to fifteen.2% in February, whereas excessive velocity diesel inflation eased from 28.5% within the earlier month to 24.6% in February.
Textiles merchandise recorded a 3rd consecutive month of falling costs, with deflation quickening to three.5% from 2.1% in January. However, wholesale inflation in carrying attire inched as much as a three-month excessive of three.5%.
Source: www.thehindu.com
