India’s WPI showing slow growth, rises 0.20% YoY in Feb

India’s wholesale price index (WPI) in February exhibited a slower pace of growth compared to the previous month, as per Reuters’ report citing government data released on Thursday.

This deceleration was mainly attributed to a sharper decline in manufactured products and power prices.

Wholesale prices rose by 0.20 per cent year-on-year (YoY) in February, a decrease from the 0.27 per cent gain seen in January.

These figures fell below economists’ expectations of a 0.25 per cent increase, according to a Reuters poll. Specifically, in February, manufactured product prices dropped by 1.27 per cent, surpassing the 1.13 per cent decline in the previous month.

Additionally, fuel and power prices fell by 1.59 per cent compared to a year earlier, contrasting with a 0.51 per cent drop in January.

On the other hand, food prices rose by 4.09 per cent YoY, up from January’s 3.79 per cent increase, while prices of primary articles increased by 4.49 per cent, compared to a rise of 3.84 per cent in the previous month.