Data Alert
WPI inflation inches up to 2.38% in Feb from 2.31% in Jan
This story was originally published at 13:07 IST on 17 March 2025
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--India Feb WPI inflation rate at 2.38% vs 2.31% in Jan
--Informist poll estimated India Feb WPI inflation at 2.4%
--India Feb WPI food inflation at 5.94% vs 7.47% in Jan
--India Feb WPI primary articles inflation at 2.81% vs 4.69% in Jan
--India Feb WPI fuel and power inflation at -0.71% vs -2.78% in Jan
--India Feb WPI manufactured products inflation at 2.86% vs 2.51% in Jan
--India Feb WPI all commodities index up 0.1% on month
--India Feb WPI food index down 1.3% on month
--India Feb WPI primary articles index down 1.7% on month
--India Feb WPI fuel and power group index up 2.1% on month
--India Feb WPI manufactured products index up 0.4% on month
--India Feb WPI vegetable index down 15.6% on month
--India Feb WPI cereals index up 0.3% on month
--India Feb WPI edible oils index up 1.0% on month
--India Feb WPI basic metals index up 0.4% on month
--India Dec WPI inflation rate revised to 2.57% vs 2.37% provisional
--India Feb WPI core inflation rate at 1.3% vs 0.9% in Jan
NEW DELHI – India's WPI inflation rose marginally to 2.38% in February from 2.31% in January because of an uptick in manufactured products inflation even as wholesale food prices continued to decline during the month, according to data released by the commerce ministry on Monday. WPI inflation was 0.20% in February 2024.
At 2.38%, wholesale inflation for February is in line with the consensus expectation. According to a poll by Informist, WPI inflation was seen at 2.4% last month. Meanwhile, the December print was revised higher to 2.57% from the provisional estimate of 2.37%.
In February, WPI food inflation fell to a six-month low of 5.94%, while manufactured products inflation rose to a 25-month high of 2.86%. Fuel and power inflation was at its lowest since August at (-)0.71%.
The food index of the WPI fell 1.3% on month in February but the all commodities index was up 0.1% on month due to a rise in the fuel and power, and manufactured products indices. The fuel and power index rose 2.1% on month in February, and the manufactured products index was up 0.4% from January. February was the first time in four months when the all commodities index rose sequentially.
The vegetable price index fell 15.60% on month in February, led by a 26.8?cline in wholesale potato prices and a 22.1?ll in tomato prices. Apart from vegetables, wholesale prices of pulses also fell in February.
The prices momentum was in positive territory in the non-food segment, as highlighted by the rise in the manufactured products index and the fuel and power index. Core WPI inflation--or inflation excluding food and fuel items--rose to a seven-month high of 1.3% last month from 0.9% in January.
The rise in core WPI inflation in February follows its retail counterpart. Core CPI inflation rose to a 15-month high of 4.0% in February from 3.7% in January. Headline CPI inflation, on the other hand, fell to a seven-month low of 3.61% last month, narrowing the gap with WPI inflation. Since October, headline retail inflation has crashed by 260 basis points, while WPI inflation has declined by only 37 bps.
The following table details the sequential and annual increase in the main components of the WPI:
| Weight (%) | February (index) | Month-on-month change | Year-on-year change | ||
| February | January | ||||
| ALL COMMODITIES | 100 | 154.8 | 0.1% | 2.38% | 2.31% |
| PRIMARY ARTICLES | 22.62 | 186.6 | (-)1.7% | 2.81% | 4.69% |
| Food articles | 15.26 | 195.8 | (-)2.1% | 3.38% | 5.88% |
| Cereals | 2.82 | 213.0 | 0.3% | 6.77% | 7.33% |
| Pulses | 0.64 | 208.5 | (-)3.9% | (-)1.04% | 5.08% |
| Vegetables | 1.87 | 188.3 | (-)15.6% | (-)5.80% | 8.35% |
| Potato | 0.28 | 216.3 | (-)26.8% | 27.54% | 74.28% |
| Onion | 0.16 | 303.8 | (-)4.0% | 48.05% | 28.33% |
| Tomato | 0.28 | 160.8 | (-)22.1% | (-)40.29% | (-)18.91% |
| Fruits | 1.6 | 209.6 | 6.7% | 20.88% | 15.12% |
| Milk | 4.44 | 186.4 | (-)0.4% | 1.58% | 2.69% |
| Eggs, meat, and fish | 2.4 | 171.5 | (-)1.8% | 1.48% | 3.56% |
| Non-food articles | 4.12 | 166.8 | (-)0.4% | 4.84% | 2.95% |
| Oil seeds | 1.12 | 178.9 | (-)2.2% | 0.11 | (-)0.05% |
| Minerals | 0.83 | 227.2 | (-)1.3% | 0.98% | 2.86% |
| Iron ore | 0.21 | 137.9 | (-)3.4% | 6.16% | 14.62% |
| Crude petroleum | 1.95 | 124.4 | (-)4.3% | (-)7.99% | (-)0.76% |
| FUEL and POWER | 13.15 | 153.8 | 2.1% | (-)0.71% | (-)2.78% |
| Coal | 2.14 | 135.6 | 0.0% | (-)0.29 | (-)0.44% |
| Liquefied petroleum gas | 0.64 | 123.0 | (-)0.6% | 0.90% | 2.23% |
| Petrol | 1.6 | 152.5 | 1.1% | (-)4.21% | (-)3.64% |
| High speed diesel | 3.1 | 166.6 | 0.6% | (-)3.20% | (-)3.61% |
| Electricity | 3.06 | 156.1 | 4.3% | (-)0.57% | (-)4.77% |
| MANUFACTURED PRODUCTS | 64.23 | 143.8 | 0.4% | 2.86% | 2.51% |
| Food products | 9.12 | 177.8 | 0.5% | 11.06% | 10.42% |
| Edible oils | 2.64 | 188.5 | 1.0% | 33.59% | 33.10% |
| Textiles | 4.88 | 137.0 | 0.1% | 1.93% | 2.16% |
| Chemical, chemical products | 6.47 | 137.1 | 0.3% | 1.26% | 0.96% |
| Non-metallic mineral products | 3.2 | 132.6 | 0.6% | (-)0.90% | (-)1.93% |
| Cement and lime | 1.64 | 131.2 | 0.9% | (-)3.67% | (-)5.25% |
| Basic metals | 9.65 | 137.6 | 0.4% | (-)0.65% | (-)1.22% |
| Semi-finished steel | 1.27 | 117.3 | 0.5% | 0.51% | (-)0.43% |
End
Reported by Shubham Rana
Edited by Avishek Dutta
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