India’s February Wholesale Price Index (WPI) inflation annually declined Last month, falling to a 25-month lowest of 3.85 percent. According to statistics provided by the Ministry of Commerce & Industry on Tuesday.
For the 9th straight month, in February 2023. Wholesale inflation fell below the 4 percent threshold & to its bottom level since Jan 2021.
According to the ministry, the decrease in the India’s WPI inflation rate in February was primarily due to lower prices for natural gas & crude oil, non-food items, food products, minerals, optical products, electronic, and computer, chemical products & chemicals, electrical equipment, as well as cars, trailers, & semitrailers.
As compared to the month before, the WPI increased by 0.2 percent in February 2023.
The Wholesale Price Index food inflation rate in India climbed from 2.38 percent in Jan to 3.81 percent in February. Pulses saw an increase in inflation to 2.59 percent from -21.53 perecent, & oil seeds saw a decrease to -7.38 percent in February 2023.
In the month under review, domestic fuel inflation decreased to 14.82 percent from 15.15% in Jan. While Wholesale Price Index manufacturing inflation decreased to 1.94 percent from 2.99 percent in Jan.
Wholesale Price Index inflation in India for Feb came in below forecast of 4% which might be a good sign for corporations as it would reduce the strain on their profits statistics.
From 4.73 percent in Jan & 4.95 percent in Dec 2022, the inflation has decreased.