Numbers out on Monday indicate retail inflation has quickened last month. The new consumer price index climbed 8.83% in February. In January it stood at just 7.65%.

Finance minister Pranab Mukherjee

The WPI index rose 6.95% in February; an increase of 40 basis points compared the previous month. One reason for this resurgence in inflation may be a recent spike in food prices.

Meanwhile, finance minister Pranab Mukherjee said he expected volatility in wholesale inflation for a couple of months.

Moving on, Dinesh Trivedi’s journey as the railway minister has finally come to an end. On Monday, Prime Minister Manmohan Singh accepted his resignation from the post.

Watch video

Consumer inflation accelerates in February; markets begin the week in the red

Loading video...

Trivedi’s railway budget last week had proposed hiking passenger fares. The move upset his party, the Trinamool Congress, led by Mamata Banerjee. Mukul Roy, senior leader in the Trinamool Congress is now set to replace Trivedi.

And finally, Indian markets fell on Monday, marking their third straight session of losses. The Sensex dropped 193 points to 17,273. And the Nifty fell 61 to 5,257.