Inflation based on wholesale prices rises to 2.93% in February
Inflation based on wholesale prices rose to 2.93% in February over the previous month, due to hardening of prices of primary articles, fuel and power, according to government data released today. The Wholesale Price Index (WPI) based inflation stood at 2.76% in January, 2019. WPI inflation stood at 2.74% during February 2018. Inflation of primary articles increased to 4.84% during the month.
RBI had cut key lending rate by 0.25% in February
Primary articles, including potato, onion, fruits, and milk, saw an increase of 4.84% during the month, as against 3.54 in January. The WPI data further revealed that wholesale-based price inflation for 'fuel and power' segment increased to 2.23% in February as against 1.85% this January. RBI, which mainly factors in retail inflation based CPI, had cut the key lending rate by 0.25% in February.
