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.
Pakistan opened its airspace for all commercial airlines Soon after Pakistan opened its airspace for all commercial airlines on Tuesday morning, Air India said operation costs for the one-way US and Europe-bound flights are likely to decline by Rs 20 lakh and Rs 5 lakh, respectively. Ever since Pakistani airspace was closed, we had to re-route our flights to the south of Pakistan. The flying time for long haul flights towards the USA increased by 90 minutes and it also resulted in addition usage of fuel.
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