WPI Inflation Rises To 13.11% In February; Stays In Double Digits For 11th Month

Data released by the commerce ministry on Monday showed that wholesale inflation in India rose to 13.11 per cent in February.

It had moderated to 12.96 per cent in January 2022 after rising to 13.56 per cent in December 2021.

WPI inflation was 4.83 percent in February 2021.

This is the 11th consecutive month in which WPI has been in double digits. 

"The high rate of inflation in February, 2022 is primarily due to rise in prices of mineral oils, basic metals, chemicals and chemical products, crude petroleum & natural gas, food articles and non-food articles etc. as compared to the corresponding month of the previous year," read the statement from the commerce ministry.

Inflation in food articles basket in February came in at 8.19 per cent, lower from the 10.33 per cent growth witnessed in the month before. Inflation in vegetable prices moderated to 26.93 per cent after having surged to 38.45 per cent in January from 31.56 per cent in December.  In the fuel and power basket, the rate of price rise was 31.50 per cent during the month.

Inflation in crude petroleum spiked to 55.17 per cent during February, against 39.41 per cent in the previous month, on rising prices of crude oil globally.

The Reserve Bank last month kept its key repo rate — at which it lends short-term money to banks — unchanged for the 10th time in a row at 4 per cent, to support growth as well as manage inflationary pressures.

(With inputs from PTI)