November 22, 2024 21:07 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Chhattisgarh: 10 Maoists killed during encounter with security forces in Sukma | Baba Siddique murder case: Arrested Akashdeep Gill used a labourer's hotspot to evade tracking, say police | Donald Trump picks 'smart and tough' Pam Bondi as new US Attorney General after Matt Gaetz withdraws | Canadian government denies media report that claims PM Modi knew of Khalistani leader Nijjar's killing | PM Modi bestowed Dominica's highest award at India-CARICOM Summit
India's wholesale inflation dips to 3.85 pc in February
Wholesale Inflation
Image: Pixabay

India's wholesale inflation dips to 3.85 pc in February

| @indiablooms | 14 Mar 2023, 04:47 pm

New Delhi: India's wholesale inflation dipped to  3.85 percent in the month of February against  4.73 percent recorded in January, official data released on Tuesday revealed.

"Decline in the rate of inflation in February, 2023 is primarily contributed by fall in prices of crude petroleum & natural gas, non-food articles, food products, minerals, computer, electronic & optical products, chemicals & chemical products, electrical equipment and motor vehicles, trailers & semi-trailers," read a statement issued by the Indian government.

Primary Articles (Weight 22.62%):- The index for this major group declined by 0.57% to 173.0 (provisional) in February, 2023 from 174.0 (provisional) for the month of January, 2023. Prices of Food Articles (0.45%) increased in February, 2023 as compared to January, 2023. Prices of Minerals (-1.37%), Non-food Articles (-1.73%) and Crude Petroleum & Natural Gas (-5.42%) declined in February, 2023 as compared to January, 2023.

Fuel & Power (Weight 13.15%):- The index for this major group increased by 1.93% to 158.8 (provisional) in February, 2023 from 155.8 (provisional) for the month of January, 2023. Prices of Mineral Oils (2.86%) and Coal (0.74%) increased in February, 2023 as compared to January, 2023.

Manufactured Products (Weight 64.23%):- Out of the 22 NIC two-digit groups for manufactured products, 13 groups have witnessed increase in prices while 9 groups have witnessed a decrease in prices.

The increase in price is mainly contributed by basic metals; fabricated metal products, except machinery and equipment; machinery and equipment; other manufacturing; other non-metallic mineral products; pharmaceuticals, medicinal chemical & botanical products etc.  Some of the groups that have witnessed decrease in prices are food products; computer, electronic & optical products; chemicals & chemical products, electrical equipment and motor vehicles, trailers & semi-trailers etc. in February, 2023 as compared to January, 2023.

WPI Food Index (Weight 24.38%): The Food Index consisting of 'Food Articles' from Primary Articles group and 'Food Product' from Manufactured Products group have increased from 171.2 in January, 2023 to 171.3 in February, 2023. The rate of inflation based on WPI Food Index decreased from 2.95% in January, 2023 to 2.76% in February, 2023.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.