So far, inflation was being driven by higher food prices, including higher prices of manufactured foods.
Also See Soaring prices (Graphic)
The January Wholesale Price Index data show, however, that non-food manufactured prices are also rising. The HSBC Markit Purchasing Managers’ Index for Services shows that prices charged for services increased in January. The pressure is building for a hike in policy rates by the Reserve Bank of India.
Graphic by Ahmed Raza Khan/Mint