New Delhi, March 17 (IANS). The wholesale price index (WPI) or wholesale inflation in India has increased by 2.38 percent in February 2025. This was due to increased prices of fuel and energy and the cost of manufacturing sector. This information was given by the Ministry of Commerce and Industry on Monday.
Earlier in January, WPI or wholesale inflation was at 2.31 percent.
The ministry was informed that the index of fuel and energy in February increased by 2.12 percent to 153.8 (provisional), which was 150.6 (provisional) in January. This is due to 4.28 percent in the prices of electricity and 1.87 percent in mineral oil prices.
The index of manufacturing products recorded an increase of 0.42 percent. However, in February, food inflation has been recorded by 2.05 percent in food inflation on a monthly basis, which shows that the prices of food products may be seen in the coming time.
According to the official statement, “The main reason for the wholesale inflation being positive in February is to increase manufacturing products and food items prices compared to the same month of the previous year.”
According to the data released last week, the retail inflation rate has been at a seven -month low of 3.61 percent in February, which is 0.65 percent less than the January figure. This is because of the decrease in the price of food products.
This was the lowest level of retail inflation in the country after July 2024.
Last month, RBI Governor Sanjay Malhotra had reduced the repo rate by 25 to 6.5 percent to 6.25 percent. It was also said that the inflation rate is expected to come below 4 percent according to the RBI target.
The MPC, which took place in the month of February, also decided to continue its neutral stance in monetary policy and focused on reducing inflation, supporting development. Malhotra said that this will give flexibility to react to the massive economic environment.
-IANS
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