There is news of slight relief on the inflation front. The Wholesale Price Index (WPI) based inflation eased to 0.2 percent in February. This is lower than the 0.27 percent recorded in the previous month. WPI inflation remained negative from April to October and turned positive at 0.26 percent in November. According to reports, the Ministry of Commerce and Industry stated on Wednesday that the annual rate of inflation based on the All India Wholesale Price Index (WPI) for February 2024 is 0.20 percent (provisional), which is higher than February 2023.
However, an increase in their prices
According to the latest figures, food inflation in February rose slightly from 6.85 percent in January to 6.95 percent. Vegetable inflation remained at 19.78 percent in February, up from 19.71 percent in January. Wholesale inflation for pulses remained at 18.48 percent in February, compared to 16.06 percent in January. However, the released figures also indicate that there has been no change in the Wholesale Price Index of products manufactured in February compared to January.
Slight relief in Retail Inflation as well
There has also been a slight relief in retail inflation cases. Retail inflation rate for February was recorded at 5.09 percent, slightly lower than the previous month. These figures were released by the National Statistical Office (NSO) on Wednesday. According to them, the Consumer Price Index (CPI) based inflation was 5.1 percent in January and 6.44 percent in February 2023. The Reserve Bank of India has been tasked with ensuring that retail inflation remains at 4 percent with a margin of 2 percent on both sides. RBI had estimated retail-based inflation to be at 5 percent in January. RBI has not made any changes in the policy rate, i.e., the repo rate, for a long time. However, the common people are still waiting for relief in cheap loans and EMIs.
