India’s annual wholesale price inflation grew to 2.93 per cent in February due to an increase in prices of key food as well as fuel products, showed data released by the Commerce Ministry on Thursday.
The Wholesale Price Index (WPI) inflation was 2.76 per cent in January this year.
Inflation of primary articles – which includes food products like cereals, vegetables and wheat – increased to 4.84 per cent in February, compared with 3.54 per cent in January, while the WPI-based inflation for the fuel and power segment rose to 2.23 per cent compared to 1.85 per cent for these respective months.
According to the Ministry’s latest release, the price of betel leaves, maize, arhar, bajra, barley, jowar, poultry chicken, moong, masur, wheat, paddy, urad, pork, ragi, egg and marine and inland fish rose.
However, the overall food articles index had dropped 0.2 per cent due to lower price of peas, tea, fruits, vegetables, mutton, gram and condiments and spices.
The ‘non-food articles’ group rose by 1 per cent from January due to a higher price of products like tanning materials, sunflower, soyabean, fodder, gingelly, niger and cotton seed as well as raw silk and raw wool. However, the prices of products like guar seed, raw cotton, raw rubber and copra had declined.
The index for the crude petroleum and natural gas group rose by 1.8 per cent from the previous month due to higher price of crude petroleum and natural gas, the data stated.
The mineral oils group index rose by 3.3 per cent from the previous month due to the higher price of furnace oil, naphtha, HSD, petroleum coke, petrol and kerosene. However, the price of liquefied petroleum gas and bitumen declined, it added.