Wholesale Inflation Rises To 2.93% In February

The annual rate of inflation, based on Wholesale Price Index (WPI), rose to 2.93 per cent (provisional) for the month of February compared with 2.76 per cent in the previous month, government data showed. At 2.93 per cent, the wholesale price inflation in February was higher than economists' estimates. Economists in a poll conducted by news agency Reuters had expected the WPI inflation at 2.88 per cent.

Inflation in the month of February quickened on the back of jump in the prices of food and fuel products, after falling to a 10-month low in January.

The rate of inflation based on WPI Food Index consisting of food articles rose to 3.29 per cent versus 1.84 per cent in January.

The index for fuel and power rose 1.7 per cent to 101.0 (provisional) from 99.3 (provisional) in the previous month, according to press release issued by the Commerce Ministry.