Team News Riveting
New Delhi, March 14
The Wholesale Price Index (WPI)-based inflation declined to a 25-month low of 3.85 per cent in February 2023 on easing prices of manufactured items and fuel and power.
This is the ninth straight month of decline in WPI-based inflation, government data released on Tuesday said. It was 4.73 per cent in January, 4.95 per cent in December 2022, 5.85 per cent in November last year, and 13.43 per cent in February 2022.
The food index inflation eased to 2.76 per cent in February from 2.95 per cent in January.
“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,” the Commerce and Industry Ministry said in a statement.
Inflation in food articles, however, rose to 3.81 per cent in February, as against 2.38 per cent in January.
Inflation in pulses came in at 2.59 per cent, while in vegetables was (-) 21.53 per cent. Inflation in oil seeds was (-) 7.38 per cent, while in fruits was 7.02 per cent last month.
Fuel and power basket inflation eased to 14.82 per cent, from 15.15 per cent in January 2023. In Manufactured products, it was 1.94 per cent in February 2023 as compared to 2.99 per cent in January.
The deceleration in WPI comes in line with the dip in retail inflation, data of which was released on Monday. CPI-based retail inflation declined to 6.44 per cent in February from 6.52 per cent in January.
