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.
Oil prices hovered just below 2019 highs by producer club OPEC Accordingly oil prices hovered just below 2019 highs early on Tuesday, supported by ongoing supply cuts led by producer club OPEC. Meanwhile US sanctions against oil producers Iran and Venezuela are also boosting crude prices, although traders say the market looks capped by rising American output.
- Sebi earliest decided to discontinue category of sub-brokers as market intermediaries
- Rate of inflation based on WPI Food Index rose to 2.93%
- Petrol and diesel prices risen by over Rs 2 per liter in February
- Credit rating agencies are jointly regulated by both Sebi and RBI
- Will Bharti Airtel take part in right issue?
- Nestle India to seek minority shareholders' approval to pay over 4.5% in royalties
- Member of RBI, S Gurumurthy called biggest monetary decision taken by Modi government as correct
- Stock Market in tensed state due to IAF Airstrike
- Do you know Indian Railways luggage carrying rules?
- New tax rates for Under Construction House will come into effect from April 1, 2019
- Know about gold, silver prices of this month
- How much do Indian Railways charge for cancellation of tickets?
- Hearings in Essar Steel insolvency case get over on February 19
- Animal Planet Joins Hands with L&T Metro Rail Hyderabad to Sensitize Citizens About Tiger Conservation
- Press Release: Vriksha Ayurveda, Spiritual and Organic Farming Training Course