WPI inflation at 6.55% in February as food, fuel prices go up

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1b8047580fdde8838eda728fb7cf370bInflation based on wholesale prices shot up to a high of 6.55 per cent in the month of February even as food and fuel prices began to go up.

The Wholesale Price Index (WPI) based inflation, which showed the annual rate of price rise, in January, was at 5.25 per cent, while the same decreased by 0.85 per cent in February.

According to the data released by the Union Commerce Ministry on March 14, food prices rose sharply by 2.69 per cent in February as compared to a deceleration of 0.56 per cent in January. This was mainly due to a rise in the prices of cereals, rice and fruits.

Inflation of onion prices dipped 18.85% during the month compared with 28.86% lower in the last month. Potato inflation too fell 8.84% in February compared with a 0.20% decline last month.

WPI inflation in manufactured products rose from 3.99 per cent in January to 3.66% in February. Mineral prices also increased 31%.

The government also revised the rise in wholesale price inflation for December to 3.68% from 3.39% earlier.