On a month-on-month foundation, the WPI was 0.07% greater, with main articles rising 0.22% and the Food Index up 0.17%.
| Photo Credit: PTI
India’s wholesale value inflation moderated to a four-month low of 0.2% in February from 0.27% in January, regardless of an acceleration in meals and first articles’ inflation charges, owing to a sharper year-on-year drop in manufactured merchandise and gasoline and energy costs.
The Wholesale Food Index (WPI) picked up from 3.8% in January to 4.1% in February, whereas main articles’ costs rose 4.5%, in contrast with 3.84% within the earlier month. On a month-on-month foundation, the WPI was 0.07% greater, with main articles rising 0.22% and the Food Index up 0.17%.
Eight of 10 main meals articles recorded greater value rise than January, with 5 objects recording double-digit inflation, together with greens (19.8%), onion (29.22%), pulses (18.5%) and paddy (10.25%). Potato costs recorded a 15.3% spurt, after no less than 5 months of deflation.
Cereals and wheat inflation hit a three-month excessive of 6.6% and a couple of.3%, respectively. Fruit costs dropped 4% in February, whereas eggs, meat and fish recorded a 0.47% year-on-year decline in costs, the mildest dip in three months.
Fuel and gasoline costs
Among non-food main articles, crude petroleum inflation surged to a 14-month excessive of 16.65%. LPG costs which have been slashed by ₹100 earlier this month, rose 3.8% in February, in comparison with 0.4% in January. However, total gasoline and gasoline costs had been 1.6% decrease than February 2023, marking the sharpest deflation price in three months.
Eight of 14 manufactured merchandise’ classes recorded value drops from final February, with the general phase seeing a 1.27% decline in costs, the steepest since October 2023.
February marks the fourth successive month that the WPI has risen on a year-on-year foundation, after seven months of deflation. The Commerce and Industry Ministry raised the wholesale inflation price for December 2023 to 0.86% from the 0.73% uptick estimated earlier.
“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,” the Ministry mentioned in an announcement.
Source: www.thehindu.com
