Lagatar24 Desk
New Delhi, Mar 14: The union government data released on Monday showed that the wholesale price-based inflation in India increased to 13.11 percent in February from a year ago, up from 12.96 percent the previous month.
Higher fuel prices, up 31.50 percent year over year vs 32.27 percent in January, were a major factor.
WPI inflation has been in double digits for the eleventh month in a row, according to official data issued on Monday. WPI inflation has been in double digits since April of last year.
Inflation was 12.96% last month, compared to 4.83 percent in February of previous year.
Inflation in food items, on the other hand, fell to 8.19 percent in February from 10.33 percent in January. In February, vegetable inflation was 26.93 percent, down from 38.45 percent the previous month.
“The high rate of inflation in February 2022 is primarily due to rise in prices of mineral oils, basic metals, chemicals and chemical products, crude petroleum & natural gas, food articles and non-food articles etc. as compared to the corresponding month of the previous year,” the Commerce and Industry Ministry said in a statement, according to PTI.
In February, inflation in manufactured goods was 9.84 percent, up from 9.42 percent in January.
During the month, the rate of price increase in the fuel and power basket was 31.50 percent.
On rising crude oil prices globally, inflation in crude petroleum jumped to 55.17 percent in February, up from 39.41 percent the previous month.
To stimulate economy and contain inflationary pressures, the Reserve Bank retained its benchmark repo rate, which it provides short-term money to banks, at 4% for the tenth time in a row last month.
