Inflation based on wholesale price index rises to 4.17% in February on costlier food, fuel
After witnessing months of softening of prices, food articles in February saw 1.36% inflation
New Delhi: The wholesale price-based inflation rose for the second consecutive month in February to 4.17%, as food, fuel and power prices spiked.
The WPI inflation was 2.03% in January and 2.26% in February last year. After witnessing months of softening of prices, the food articles in February saw 1.36% inflation. In January it was (-) 2.80%.
In vegetables, the rate of price rise was (-) 2.90% in February, against (-) 20.82% in January. Inflation in pulses was 10.25% in February, while in fruits it was 9.48%, and in fuel and power basket it was 0.58%.
The RBI in its monetary policy last month kept interest rates unchanged for the fourth consecutive meeting and said that the near-term inflation outlook has turned favourable.
Retail inflation, based on the consumer price index, was at 5.03% in February, data released last week showed.