New Delhi, March 15: India’s retail inflation rate inched up to an eight-month high in February, remaining above the upper limit of the central bank’s comfort level of 6 per cent for the second consecutive month, while the wholesale price inflation rate remained in double digits for the eleventh consecutive month. This may make inflationary management challenging amid rising risks to growth in Asia’s third-largest economy.
The data released by the Statistics Department showed that the consumer price index (CPI)-based inflation rate rose to 6.07 per cent in February from 6.01 per cent in the previous month, driven by food and beverages, clothing and footwear, and fuel and light groups.
Food and beverages rose to a 15-month high of 5.85 per cent as vegetables and edible oils witnessed high inflation.
Separately, the data released by the industry department showed that the wholesale price index (WPI)-based inflation rate rose to 13.11 per cent in February after declining for two consecutive months. During February, while inflation for manufactured items accelerated to 9.84 per cent as producers passed on rising input costs to consumers, food and fuel inflation rates eased to 8.19 per cent and 31.5 per cent, respectively. Edible oil inflation jumped to 14.9 per cent in February after showing a declining trajectory since May 2021.
