February WPI inflation rises 6.55 percent against 5.25 percent

February WPI inflation rises 6.55 percent against 5.25 percent

India News

The Wholesale Price Index (WPI) or inflation for the month of February rose by 0.5 percent to 185.5 (provisional) from 184.6 (provisional) for the previous month. The annual rate of inflation, based on monthly WPI, stood at 6.55 percent (provisional) for the month of February, 2017 (over February, 2016) as compared to 5.25 percent (provisional) for the previous month and -0.85 percent during the corresponding month of the previous year. Primary articles index rose by 0.9 percent to 258.1 (provisional) from 255.7 (provisional) for the previous month. The groups and items which showed variations included fruits and vegetables (five percent), jowar and poultry chicken (two percent each) and rice, bajra, fish-inland, ragi and beef and buffalo meat (one percent each). However, the price of gram (14 percent), arhar (seven percent), condiments and spices (six percent), urad (five percent), tea and masur (three percent), egg, moong and maize (two percent) and wheat and coffee (one percent each) declined. The index for ‘Minerals’ group rose by 9.0 percent to 234.8 (provisional) from 215.5 (provisional) for the previous month due to higher price of manganese ore (24 percent), crude petroleum (13 percent), copper ore (11 percent), chromite (eight percent), iron ore (three percent) and zinc concentrate (two percent).