Wholesale inflation in India climbed to the highest in 27 months as commodity prices increased. The Wholesale Price Index-based inflation stood at 4.17 per cent in February 2021 as against 2.03 per cent a month ago. This is the highest since November 2018, when wholesale inflation was at 4.47 per cent.
"The rate of inflation, based on monthly WPI, stood at (4.17 per cent) (provisional) for the month of February, 2021 (over February, 2020) as compared to 2.26 per cent during the corresponding month of the previous year," stated the Ministry of Commerce and Industry.
"Prices of Minerals (9.40 per cent), Crude Petroleum & Natural Gas (6.50 per cent) and Food Articles (0.51 per cent) increased in February, 2021 as compared to January, 2021. Prices of Non-food Articles (-0.51 per cent) declined in February, 2021 as compared to January, 2021," stated the ministry.
Rate of wholesale inflation for manufactured products during the month under review stood at 5.81 per cent as against 5.13 per cent in January, while the same for the food basket was at 3.31 per cent as against -0.26 per cent in January. Rate of wholesale inflation of fuel and power was at 0.58 per cent as against -4.71 per cent in January.
Inflation for vegetables was -2.90 per cent, whereas for eggs, meat and fish, the inflation rate stood at -0.78 per cent.
Rate of inflation for LPG stood at 0.51 per cent, while for petrol it was 0.83 per cent.
The rate of inflation stood at 2.03 per cent for the month of January, as compared to 3.52 per cent in the corresponding month of the previous year.