WPI inflation eases to 2.48% in February
New Delhi: India’s annual wholesale price inflation eased for the third straight month in February after touching an eight-month high in November, helped by a softer rise in food and fuel prices, government data showed on Wednesday.
The Reserve Bank of India (RBI), which has kept rates steady since a 25 basis-point cut in August, is widely expected to keep them unchanged at its next policy review on 5 April.
Annual wholesale price inflation last month slowed to 2.48%, from a provisional 2.84% rise in January.
Wholesale food prices in February rose 0.07% from a year earlier, compared with 1.65% in January, the data showed. India’s retail inflation rate, the main policy target for the RBI, declined for the second straight month in February, to 4.44%, but remained above the central bank’s 4% medium-term target.