Fall in prices of crude petroleum & natural gas, non-food items, food products, minerals, computer, electronic & optical products, chemicals & chemical products, electrical equipment, and motor vehicles, trailers & semi-trailers is primarily contributing to declining in the rate of inflation in February 2023, the commerce and industry ministry said on Tuesday.
The pace of wholesale price growth was 2.51 percent in January 2021, when the WPI inflation rate was 3.85 percent, which is the lowest since then.
The rate’s decrease experts claimed that a favorable base effect was primarily to blame for the price increase, and that moving forward, declining commodity prices will further reduce WPI inflation.
Source:- Latestly
Yet, weather-related factors and a timely monsoon would determine how food inflation developed in the future.
Although inflation for manufactured goods slowed, it increased for food products, going from 2.38 percent in January to 3.81 percent in February.
Source: CNBC- TV 18
Inflation in pulses was 2.59 percent, while in vegetables was (-)21.53 percent. Oil seed inflation in February 2023 was (-)7.38 percent.
Inflation in the fuel and power basket decreased to 14.82% from 15.15% in the previous month. It was 1.94 percent in manufactured goods compared to 2.99 percent in January. What do you think about this Share your views in the comments below
