Wholesale Price Index (WPI): Wholesale Inflation dips to 4.68% on lower food, fuel prices.
India’s wholesale price-based inflation eased to a nine-month low in February as food and fuel prices moderated, raising expectations that the Reserve Bank of India (RBI) would leave interest rates unchanged at its policy review next month.
The wholesale price index (WPI), long regarded as India’s main inflation measure, rose 4.68 percent last month, data showed on Friday, compared with a 4.99 percent jump forecast by economists in a Reuters poll.
A 10 percent drop in wholesale vegetable prices from January helped overall inflation ease for the third straight month.
Friday’s data comes on the heels of a faster-than-expected slowdown in consumer inflation, which eased for a third straight month to a 25-month low of 8.10 percent in February.