Feb WPI dips to -0.91 pct, remains in negative zone for 16th straight month

14/03/2016 12:43

Continuing its deflationary trend for sixteenth consecutive months, India’s Wholesale Price Index (WPI) shrank to -0.91 per cent for the month of February as compared to -0.90 per cent for the previous month, lower than India Ratings and Research’s (Ind-Ra) expectation of negative 0.80 per cent.

“Inflation in food and non-food articles came in at 3.2 per cent and 2.9 per cent, respectively, in February 2016,” according to data published by the ministry of commerce & industry on Monday.

The index for ‘food articles’ group declined by 3.2 per cent to 259.1 from 267.6 for the previous month due to lower price of fruits & vegetables, egg, arhar and gram, the data showed. On the other side, the index for ‘non-food articles’ group declined by 2.9 per cent to 217.9 from 224.5 for the previous month due to lower price of flowers, gingelly seed, castor seed and niger seed.

In February, the index for fuel and power group declined by 1.2 per cent to 169.6 from 171.6 for the previous month due to lower price of aviation turbine fuel (14%), bitumen (7%), furnace oil (3%) and LPG, petrol and high speed diesel (1% each).

Meanwhile, the manufacturing index rose by 0.3 per cent to 153.1 from 152.7 for the previous month.

For the month of December, 2015, the final Wholesale Price Index stood at -1.06 per cent as compared to -0.73 per cent, respectively.

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