Inflation Slides Down To 2.26% On Lower Food Prices

The annual rate of inflation based on monthly wholesale price index (WPI) stood at 2.26 per cent in February over the same month last year, data released by the government on Monday showed.

The official WPI for all commodities (base 2011-12=100) for February 2020 declined by 0.6 per cent to 122.2 from 122.9 for the previous month, said a statement issued by the Ministry of Commerce and Industry.

“The annual rate of inflation based on monthly WPI stood at 2.26 per cent for February 2020 (over February 2019) as compared to 3.1 per cent (provisional) for the previous month and 2.93 per cent during the corresponding month of previous year,” it said.

Build up inflation rate in the financial year so far was 1.92 per cent compared to a build up rate of 2.75 per cent in the corresponding period of previous year.

The index for food articles group declined by 3.7 per cent to 154.9 from 160.8 for the previous month due to lower price of fruits and vegetables (14 per cent), tea (8 per cent), egg and maize (7 per cent each), condiments, spices and bajra (4 per cent each), gram and jowar (2 per cent each), and fish-inland, pork, ragi, wheat, urad and masur (1 per cent each).

However, the price of beef, buffalo meat and fish-marine moved up (5 per cent each), betel leaves (4 per cent), moong and poultry chicken (3 per cent each), mutton (2 per cent) and barley, rajma and arhar (1 per cent each).

However, the index for fuel and power rose by 1.2 per cent to 103.9 from 102.7 for the previous month.

The index for manufactured products rose marginally by 0.2 per cent to 118.7 from 118.5 for the previous month. (ANI)