India's wholesale prices continued to rise for the fourth consecutive month in February, albeit at a slower rate than anticipated, according to data released by the National Statistical Office.
The Wholesale Price Index (WPI) increased by 0.20% year-over-year in February, a slower increase than the 0.27% seen in January. The rise was less than the anticipated 0.25% for the month.
The deceleration in inflation can be primarily attributed to a continued decline in prices for fuel, power, and manufactured goods.
However, the inflation of food prices accelerated, rising to 4.09% from 3.79% in January. Similarly, the costs of primary articles increased at a faster 4.49% rate.
Comparing to last year, the prices for manufactured goods were 1.27% lower and those for fuel and power fell by 1.59%.
On a monthly basis, wholesale prices slightly rose by 0.1%, overturning a 0.46% decrease in January.
Earlier data published in the week indicated that India's consumer price inflation marginally dropped to 5.09% in February from 5.10% in the previous month.
Additionally, inflation stayed within the Central Bank's acceptable range of 2-6%.
In the previous month, the Reserve Bank decided to maintain the repo rate at 6.50%.
