India’s wholesale inflation surges to its highest since November 2013

March 14, 2017, 1:45 pm
India’s wholesale inflation surges to its highest since November 2013
BUSINESS
BUSINESS
India’s wholesale inflation surges to its highest since November 2013

India’s wholesale inflation surges to its highest since November 2013

The Wholesale Price Index (WPI) rose 6.55 percent in February compared to a year ago, showed data released by the government on Tuesday morning.

WPI inflation has risen rapidly from 3.68 percent in December to 5.25 percent in January and over the 6 percent now, reports Bloomberg Quint. The increase in the prices of minerals, fuel and food prices contributed to the surge in WPI. The sub-index price of the minerals rose 9 percent in February compared to the previous month while the fuel and power index rose by 1.3 percent month-on-month. On a year-on-year basis, the mineral index has jumped 31 percent while the fuel index has jumped 21 percent.

Food article prices were mostly steady in February with the index rising just 0.1 percent. Non-food article prices, which includes items like rubber, saw a steeper increase of 1.5 percent. Manufactured product inflation was flat during the month, suggesting that pricing power in the hands of manufacturers remains moderate.