New Delhi: India’s wholesale price-based inflation (WPI) eased to 0.2 percent in February as compared to 0.27 percent in January, data released by the Commerce and Industry Ministry showed on Thursday.
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“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,” said an official release.
Fuel and power basket inflation eased to -1.59 percent last month from -0.51 percent in January. In manufactured products, inflation was -1.27 percent as against -1.13 percent.
The month over month change in WPI index for the month of February, 2024 stood at 0.07% as compared to January, 2024.
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For the month of December, 2023 the final Wholesale Price Index and inflation rate for ‘All Commodities’ (Base: 2011-12=100) stood at 151.8 and 0.86% respectively.
The other goods that recorded an increase in inflation during Feb include natural gas, electricity, machinery & equipment and motor vehicles, trailers & semi-trailers etc.
Suman Chowdhury, Chief Economist and Head -Research, Acuité Ratings & Research said, “The deflationary trend in manufacturing goods may reverse only gradually over the next few months.
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Overall WPI inflation print is expected will be shaped by the trend in the food category and in the absence of any major surprises, should remain range bound between 0%-1.0% over the next two quarters.”
