According to sources it was stated that the annual rate of inflation, based on Wholesale Price Index (WPI), rose to 2.93% (provisional) for the month of February compared with 2.76% in the previous month, government data showed. At 2.93%, the wholesale price inflation in February was higher than economists' estimates. Economists in a poll conducted by news agency Reuters had expected the WPI inflation at 2.88%.
Reportedly inflation in the month of February quickened on the back of jump in the prices of food and fuel products, after falling to a 10 month low in January. Meanwhile the rate of inflation based on WPI Food Index consisting of food articles rose to 3.29 per cent versus 1.84 per cent in January.
Moreover the index for fuel and power rose 1.7 per cent to 101.0 (provisional) from 99.3 (provisional) in the previous month, according to press release issued by the Commerce Ministry.