India’s wholesale prices are rising steadily, with a 2.13 per cent year-over-year increase in February. Government data released on Monday showed that in January, the increase was 1.81 per cent, indicating prices are rising a little faster than before.
According to the data shown by WPI, food prices rose by 1.85 per cent year-on-year in February, higher than in January, 1.41 per cent. On the other hand, vegetable prices grew 4.73 per cent year-on-year in February, which is actually slower than January’s 6.78%. So, food prices are rising, but vegetable prices are growing more slowly, not as fast as before.
Additionally, manufactured goods prices expanded 2.92 per cent year-on-year in February, slightly higher than in January. Fuels and power prices fell by 3.78 per cent year-on-year in February, compared to a year-on-year increase a month ago.
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The experts forecast inflation at around 2 per cent, but it exceeded their expectations, reaching 2.13 per cent. The reason for growing inflation in wholesale prices is food and factory goods. However, fuel and power prices are declining, which is helping to calm the situation a bit.
