There has been news of slight relief on the inflation front. Wholesale price index (WPI) based inflation declined to 0.2 percent in February. It was 0.27 percent in the previous month. WPI inflation was negative from April to October and turned positive at 0.26 per cent in November. According to language news, the Ministry of Commerce and Industry said in its statement on Wednesday that the annual rate of inflation based on All India Wholesale Price Index (WPI) numbers is 0.20 percent (provisional) for the month of February, 2024, which is 0.20 percent (provisional) for the month of February, 2024. More than 2023.
But their prices increased
According to the latest data, food inflation increased marginally to 6.95 percent in February from 6.85 percent in January. The inflation rate of vegetables increased from 19.71 percent in January to 19.78 percent in February. The wholesale inflation rate of pulses was 18.48 percent in February, which was 16.06 percent in January. However, the released data also shows that there was no change in the price index of products made in February as compared to January.
Minor relief in retail inflation also
There has also been slight relief in the case of retail inflation. The retail inflation rate has fallen marginally to 5.09 percent in February compared to the previous month. This data was released by the National Statistical Office (NSO) last Wednesday. According to this, inflation based on Consumer Price Index (CPI) was 5.1 percent in January and 6.44 percent in February 2023. The Reserve Bank of India has been given the responsibility to ensure that retail inflation remains at 4 percent with a margin of 2 percent on both sides. In January, the Reserve Bank of India had estimated the retail based inflation rate to be at 5. RBI has not made any change in the policy rate i.e. repo rate for a long time. However, common people are definitely waiting for relief in cheap loans and EMIs.
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