Higher prices of manufactured goods pushed up India’s February 2022 wholesale inflation on a sequential as well as on a year-on-year basis.
Accordingly, the annual rate of inflation, based on wholesale prices, rose to 13.11 per cent last month from 12.96 per cent reported for January 2022.
Similarly, on a year-on-year (YoY) basis, the Wholesale Price Index (WPI) data furnished by the Ministry of Commerce and Industry showed an exponential rise last month over February 2021, when it stood at 4.83 per cent.
“The high rate of inflation in February, 2022 is primarily due to rise in prices of mineral oils, basic metals, chemicals and chemical products, crude petroleum and natural gas, food articles and non-food articles etc. as compared to the corresponding month of the previous year,” the Ministry said in its review of ‘Index Numbers of Wholesale Price in India’ for February.
“The month over month change in WPI index for the month of February, 2022 stood at 1.4 per cent as compared to January, 2022.