Chandigarh/New Delhi, March 17 — Wholesale price inflation edged up to 2.38% in February, driven by higher costs of manufactured food products, vegetable oil, and beverages, according to government data released Monday.
The Wholesale Price Index (WPI)-based inflation stood at 2.31% in January and was significantly lower at 0.2% in February 2024.
The Ministry of Commerce & Industry stated that the increase stemmed primarily from rising prices in food manufacturing, non-food articles, and textiles.
Inflation in manufactured food products climbed to 11.06%, while vegetable oil surged by 33.59%. Beverage prices saw a slight uptick of 1.66%. Meanwhile, vegetable prices cooled, with potato inflation dropping to 27.54% from 74.28% in the previous month.
The fuel and power sector remained in deflation, recording a decline of 0.71% in February compared to a 2.78% drop in January.
Separately, retail inflation data released Wednesday showed that Consumer Price Index (CPI)-based inflation fell to a seven-month low of 3.61% in February as food prices softened.
