WPI cools to 7-month low of 2.48% in February

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Wholesale price index (WPI)-based inflation was at 2.84 per cent in January 2018 and was at 5.52 per cent in February past year.

India's annual rate of inflation, based on monthly wholesale price index (WPI), stood at 2.48 per cent for the month of February 2018 over same month of past year.

Meanwhile, the rate of inflation based on WPI Food Index consisting of "Food Articles" from Primary Articles group and "Food Product" from Manufactured Products group decreased from 1.65 per cent in January, 2018 to 0.07 per cent in February, 2018. Prices of pulses, meanwhile, have fallen by almost 25 per cent and of wheat by 6.23 per cent during the same period.

Inflation in vegetables softened with annual inflation at 15.26% as against 40.77%in January.

The WPI inflation of 2.48 per cent in February 2018 is the lowest in seven months.

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Wholesale inflation in onion slowed to 118.95 per cent, but rose marginally in the case of potato to 11.67 per cent.

The cost of fuel and power, which commands a 13.15 per cent weightage in the index, increased at a slower pace of 3.81 per cent during the month, from a growth of 4.08 per cent in January. While food prices are expected to remain stable in the coming months, risks to stable prices exist, said CARE Ratings. The previous low level was recorded in July at 1.88%.

The latest inflation number was in line with a 2.50% increase forecast by economists in a Reuters poll.

Fuel-wise, prices in February of both high-speed diesel and petrol climbed higher than in the previous month, by 7.41 per cent and 2.52 per cent, respectively.

The consumer price index (CPI)-based retail inflation has also eased to 4.44% in February, as per the data released earlier.